Citizens First (CZFC) 10-K 7 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 07, 2019	Jun. 30, 2018
Document and Entity Information
Entity Registrant Name	CITIZENS FIRST CORP
Entity Central Index Key	1,073,475
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 61,557,317
Entity Common Stock, Shares Outstanding		2,537,605
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and due from financial institutions	$ 8,875	$ 6,444
Federal funds sold	10,000
Cash and cash equivalents	18,875	6,444
Interest-bearing deposits in other financial institutions	16,010	13,532
Available-for-sale securities	47,098	48,616
Loans held for sale	269	427
Loans, net of allowance for loan losses of $4,373 and $4,724 at December 31, 2018 and December 31, 2017, respectively	367,171	369,515
Premises and equipment, net	8,861	9,140
Bank owned life insurance (BOLI)	8,705	8,528
Federal Home Loan Bank (FHLB) stock, at cost	2,065	2,053
Accrued interest receivable	1,683	1,681
Deferred income taxes	545	670
Goodwill and other intangible assets	4,150	4,221
Other assets	550	555
Total assets	475,982	465,382
Deposits.
Noninterest bearing	55,006	53,259
Savings, NOW and money market	192,762	175,087
Time	140,841	143,968
Total deposits	388,609	372,314
FHLB advances and other borrowings	30,000	40,000
Subordinated debentures	5,000	5,000
Accrued interest payable	410	285
Other liabilities	1,944	1,949
Total liabilities	425,963	419,548
Stockholders' equity
Common stock, no par value, authorized 5,000,000 shares; issued and outstanding 2,537,605 shares at December 31, 2018 and 2,526,377 shares at December 31, 2017, respectively	33,309	33,138
Retained earnings	17,365	13,142
Accumulated other comprehensive income (loss)	(655)	(446)
Total stockholders' equity	50,019	45,834
Total liabilities and stockholders' equity	$ 475,982	$ 465,382

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Consolidated Balance Sheets
Loans, allowance for loan losses (in dollars)	$ 4,373	$ 4,724
Common stock, no par value	$ 0	$ 0
Common stock, authorized shares	5,000,000	5,000,000
Common stock, issued shares	2,537,605	2,526,377
Common stock, outstanding shares	2,537,605	2,526,377

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Interest and dividend income
Loans	$ 18,565	$ 17,246
Taxable securities	714	576
Non-taxable securities	384	502
Other	565	271
Total interest and dividend income	20,228	18,595
Interest expense
Deposits	3,512	2,440
FHLB advances and other borrowings	776	454
Subordinated debentures	195	144
Total interest expense	4,483	3,038
Net interest income	15,745	15,557
Provision for loan losses (credit)	160	(150)
Net interest income after provision for loan losses (credit)	15,585	15,707
Non-interest income
Gain on sale of mortgage loans	320	317
Lease income	236	237
BOLI income	177	177
Gain on sale of available-for-sale securities		48
Total non-interest income	3,608	3,551
Non-interest expenses
Salaries and employee benefits	7,161	6,802
Net occupancy expense	1,778	1,804
Advertising and public relations	359	337
Professional fees	646	547
Data processing services	809	910
Franchise shares and deposit tax	480	484
FDIC insurance	172	197
Other	1,844	1,741
Total non-interest expenses	13,249	12,822
Income before income taxes	5,944	6,436
Provision for income taxes	1,125	2,347
Net income	4,819	4,089
Dividends on preferred stock		238
Net income available for common stockholders	$ 4,819	$ 3,851
Basic earnings per common share (in dollars per share)	$ 1.90	$ 1.68
Diluted earnings per common share (in dollars per share)	$ 1.89	$ 1.60
Deposit accounts
Non-interest income
Non-intrest income from services	$ 1,230	$ 1,237
Other
Non-interest income
Non-intrest income from services	1,226	1,170
Brokerage fees
Non-interest income
Non-intrest income from services	$ 419	$ 365

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Comprehensive income (loss), net of tax
Net income	$ 4,819	$ 4,089
Other comprehensive income (loss)
Reclassification adjustment for gains included in net income, net of taxes at 34%		(32)
Change in unrealized gain (loss) on available for sale securities, net of taxes at 21% for 2018 and 34% for 2017	(121)	109
Total other comprehensive income (loss)	(121)	77
Comprehensive income	$ 4,698	$ 4,166

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Consolidated Statements of Comprehensive Income
Statutory rate (as a percent)	21.00%	34.00%

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock.	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2016	$ 7,261	$ 25,920	$ 9,706	$ (523)	$ 42,364
Increase (Decrease) in Stockholders' Equity
Net income			4,089		4,089
Stock based compensation		148			148
Change in accumulated other comprehensive income				77	77
Dividend declared and paid on common stock			(414)		(414)
Conversion of cumulative preferred	(7,077)	7,077
Redemption of cumulative preferred	$ (184)	(8)			(192)
Dividend declared and paid on preferred stock			(238)		(238)
Balance at Dec. 31, 2017		33,138	13,142	(446)	45,834
Increase (Decrease) in Stockholders' Equity
Net income			4,819		4,819
Stock based compensation		171			171
Change in accumulated other comprehensive income				(121)	(121)
Dividend declared and paid on common stock			(684)		(684)
Dividend declared and paid on preferred stock			88	(88)
Balance at Dec. 31, 2018		$ 33,309	$ 17,365	$ (655)	$ 50,019

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Consolidated Statements of Changes in Stockholders' Equity
Dividend declared and paid on common stock (in dollars per share)	$ 0.27	$ 0.18

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating Activities
Net income	$ 4,819	$ 4,089
Items not requiring (providing) cash:
Depreciation	387	438
Provision for loan losses	160	(150)
Amortization of premiums and discounts on securities	204	215
Amortization of core deposit intangible	71	53
Deferred income taxes	157	754
Stock based compensation	171	148
BOLI Income	(177)	(177)
Proceeds from sale of mortgage loans held for sale	15,909	15,581
Origination of mortgage loans held for sale	(15,431)	(15,427)
Gains on sales of available-for-sale securities		(48)
Gains on sales of mortgage loans held for sale	(320)	(317)
Loss (gain) on sale premises and equipment	(16)	(14)
Changes in:
Accrued interest receivable	(2)	(59)
Other assets	(27)	(167)
Accrued interest payable and other liabilities	152	(385)
Net cash provided by operating activities	6,057	4,534
Investing Activities
Loan originations and payments, net	2,184	(14,828)
Increase in interest-bearing deposits in other financial institutions	(2,478)	(2,514)
Purchase of premises and equipment	(115)	(187)
Proceeds from maturities of available-for-sale securities	8,324	8,976
Purchase of available-for-sale securities	7,163	10,594
Proceeds from sales of available-for-sale securities		6,498
Proceeds from sales of premises and equipment	23	14
Purchase of FHLB stock	(12)	(28)
Net cash provided by (used in) investing activities	763	(12,663)
Financing Activities
Net change in demand deposits, money market, NOW and savings accounts	19,422	2,404
Net change in time deposits	(3,127)	(529)
Proceeds from FHLB advances	25,000	39,000
Repayment of FHLB advances	(35,000)	(34,000)
Redemption of preferred stock		(192)
Dividends paid on common stock	(684)	(414)
Dividends paid on preferred stock		(238)
Net cash provided by financing activities	5,611	6,031
(Decrease) increase in cash and cash equivalents	12,431	(2,098)
Cash and cash equivalents, beginning of year	6,444	8,542
Cash and cash equivalents, end of year	18,875	6,444
Supplemental Cash Flows Information
Interest paid	4,358	2,973
Income taxes paid	$ 1,025	1,745
Conversion of cumulative preferred stock		$ 7,077

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations and Summary of Significant Accounting Policies	Note 1: Nature of Operations and Summary of Significant Accounting Policies Nature of Operations and Principles of Consolidation– The consolidated financial statements include Citizens First Corporation and its wholly-owned subsidiary Citizens First Bank, Inc., together referred to as “the Company” or “the Bank”. Intercompany transactions and balances are eliminated in consolidation. The Company provides financial services to individual and corporate customers in Warren, Simpson, Barren and Hart counties in Kentucky and in central Tennessee. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial and consumer loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, the customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Use of Estimates –To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. Cash Flows –Cash and cash equivalents includes cash, deposits with other financial institutions under 90 days, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions. Securities –Debt securities are classified as available for sale when they might be sold before maturity. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. Loans Held for Sale –Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Gains on sales of mortgage loans are recorded at the time of disbursement by an investor at the difference between the sales proceeds and the loan’s carrying value. Loans are sold servicing released. Loans –Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balance adjusted for any charge-offs, allowance for loan losses, any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term on the level-yield method. Past due status is based on contractual terms of the loan. Generally, loans are placed on non-accrual status at 90 days past due and interest is considered a loss, unless the loan is well secured and in the process of collection. All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Allowance for Loan Losses –The allowance for loan losses is a valuation allowance for probable incurred credit losses. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, information about specific borrower situations and estimated collateral values, prevailing economic conditions, and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for all loan classes by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent. Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component covers non-impaired loans and is based on historical loss experience adjusted for qualitative current factors. The historical loss experienced is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent 12 quarters. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These factors can include the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The Company defines its portfolio segments by regulatory classification, which include the following: Commercial loans, consisting of loans to depository institutions, loans to finance agricultural production, and other non-real estate commercial and industrial loans; Commercial Real Estate, consisting of loans for construction and land development, farmland, multi-family residential properties, and other non-farm, non-residential real estate loans; Residential Real Estate, consisting of first liens on residential 1-4 family properties and junior liens (revolving and non-revolving) on residential 1-4 family properties; and Consumer, including revolving and non-revolving consumer purpose loans. Commercial loans are typically based on the borrowers' ability to repay the loans from the cash flow of their business operations, and secured by assets being financed and other assets such as accounts receivable and inventory. Commercial Real Estate loans may be affected by adverse conditions in real estate markets or the economy because the borrowers ability to repay their loans depends on successful development of their properties. These loans also involve greater risk because they generally are not fully amortizing over the loan period, but have a balloon payment due at maturity. All types of Commercial and Commercial Real Estate loans may also have personal guarantees of the borrowers and business owners. Residential real estate mortgage loans are either fixed or variable interest rates to borrowers to purchase and refinance one-to-four family properties. Real estate mortgage loans are subject to the same general risks as other loans and are particularly sensitive to fluctuations in the value of real estate, which could negatively affect a borrower’s cash flow, credit worthiness and ability to repay the loan. Consumer loans are generally dependent on the personal income of the customer, and repayment is dependent on the borrower’s personal cash flow and employment status which can be affected by general economic conditions. Federal Home Loan Bank (FHLB) Stock –The Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. Premises and Equipment –Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Buildings and related components are depreciated using the straight-line method with useful lives ranging from twenty-five to forty years. Leasehold improvements are amortized over the shorter of the life of the lease or the life of the asset. Furniture, fixtures and equipment are depreciated using the straight-line with useful lives ranging from three to seven years. Foreclosed Assets –Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value, less costs to sell, at the date of foreclosure, establishing a new cost basis. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. These assets are subsequently accounted for at a lower of cost of fair value less estimated costs to sell. Subsequent to foreclosure, valuations are periodically performed by management to validate the carrying value of the foreclosed properties. Bank Owned Life Insurance –The Bank has purchased life insurance policies on certain key employees. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Goodwill and Other Intangible Assets –Prior to January 1, 2009, goodwill resulted from business acquisitions and represented the excess of the purchase price over the fair value of acquired tangible assets and liabilities and identifiable intangible assets. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill is tested annually for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value in the period identified. The Company has selected December 31 as the date to perform the annual impairment test. The Company’s assessment did not identify impairment of goodwill as of December 31, 2018 and 2017. Other intangible assets consist largely of core deposit intangible assets arising from a bank acquisition. They are initially measured at fair value and then are amortized on an accelerated method over their estimated useful lives of 8 years. Loan Commitments and Related Financial Instruments –Financial instruments include off balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Income Taxes –Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between the carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. Future decreases in the corporate tax rate could result in a loss of value of the Company’s deferred tax assets, but would reduce future income tax expense. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. The Company files consolidated income tax returns with its subsidiary. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest related to income tax matters as interest expense and penalties related to income tax matters as other expense. Stock Based Compensation Plans –Compensation cost is recognized for performance share units issued to employees, based on the fair value of these awards at the date of grant. Compensation cost is recognized over the required service period, generally defined as the vesting period. Retirement Plans –Employee 401(k) expense is the amount of matching contributions. Operating Segments –While the chief decision-makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating segments are aggregated into one as operating results for all segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. Earnings per Common Share –Basic earnings per common share is net income available to common stockholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options, performance share units and preferred stock. Earnings and dividends per share are restated for all stock splits and stock dividends through the date of issuance of the financial statements. Comprehensive Income (Loss) –Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available for sale which are also recognized as a separate component of equity. Loss Contingencies –Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there now are such matters that will have a material effect on the financial statements. Dividend Restriction –Banking regulations require maintaining certain capital levels and may limit the dividends paid by the bank to the holding company or by the holding company to shareholders. Fair Value of Financial Instruments –Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. Recent Accounting Pronouncements– On January 1, 2018, the Company adopted ASU 2014-09 Revenue from Contracts with Customers and all subsequent amendments to the ASU (collectively, “ASC 606”), which (i) creates a single framework for recognizing revenue from contracts with customers that fall within its scope and (ii) revises when it is appropriate to recognize a gain (loss) from the transfer of nonfinancial assets, such as OREO. The majority of the Company’s revenues come from interest income related to loans, securities and other sources that are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented within non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 for the year ended December 31, 2018 include service charges on deposit accounts of $1,230, debit card interchange income of $851, and non-deposit brokerage fees of $419. We elected to implement using the modified retrospective application, with the cumulative effect recorded as an adjustment to opening retained earnings at January 1, 2018. Due to immateriality, we had no cumulative effect to record. In January 2016 the FASB issued ASU 2016-01 which amends existing guidance on the classification and measurement of financial instruments. This new standard revises an entity’s accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. The new standard is effective for reporting periods beginning after December 15, 2017. Adopting the provisions of ASU 2016-01 did not have a material impact on our consolidated financial statements; however, it will impact the fair value disclosures included in Note 4: Fair Value. The Company currently does not have any equity investments. In February 2016 the FASB issued ASU 2016-02 which establishes the principles to report information about the assets and liabilities that arise from leases. This new standard changes the way operating leases are accounted for and reflected on the lessee’s balance sheet. The new standard is intended to increase transparency and comparability by requiring lessees to recognize the financial obligation and right-of-use asset associated with operating leases that have a lease term of more than 12 months on the balance sheet. The Company has four real property operating leases with renewal options that are impacted by this standard. The new standard is effective for reporting periods beginning after December 15, 2018. The Company will adopt this new accounting standard in the first quarter of 2019. Based on the leases outstanding at December 31, 2018, the effect of adopting this standard was an approximate $1.9 million increase in assets and liabilities on our Consolidated Balance Sheets. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which introduces the current expected credit loss (CECL) model and replaces the incurred loss model. The most significant impact for financial institutions will be to the allowance for loan and lease losses (ALLL). The standard allows for various expected credit loss estimation methods and is scalable. This standard is effective for public companies for reporting periods beginning after December 15, 2019. We continue to attend training sessions, assess our data and system needs, and have selected a vendor to assist to management with adoption. The Company expects to recognize a one-time increase to the allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective, but cannot yet determine the magnitude of any such one-time adjustment or the overall impact of this standard on the consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization of Purchased Callable Debt Securities. The final standard will shorten the amortization period for premiums on callable debt securities by requiring that premiums be amortized to the first (or earliest) call date instead of as an adjustment to the yield over the contractual life. The standard is effective for public companies for fiscal years beginning after December 15, 2018. Early adoption is permitted. This new accounting standard is not expected to have a material impact on the consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The ASU required a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the newly enacted federal corporate income tax rate as a result of the Tax Cuts and Jobs Act. The amount of the reclassification is the difference between the historical corporate income tax rate and the newly enacted twenty-one percent corporate income tax rate. The Company adopted during the first quarter of 2018 and recorded an entry of approximately $88,000. Reclassifications –Certain reclassifications have been made to the 2017 financial statements to conform to the 2018 financial statement presentation. Reclassifications had no effect on prior year net income or shareholders’ equity.

Available-For-Sale Securities

Available-For-Sale Securities	12 Months Ended
	Dec. 31, 2018
Available-For-Sale Securities
Available-For-Sale Securities	Note 2: Available-For-Sale Securities The following table summarizes the amortized cost and fair value of the available-for-sale securities portfolio at December 31, 2018 and December 31, 2017 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive loss: (Dollars in Thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value December 31, 2018 U. S. government agencies and government sponsored entities $ 8,529 29 $ (118) $ 8,440 Agency mortgage-backed securities: residential 20,640 15 (355) 20,300 State and municipal 16,866 57 (195) 16,728 Trust preferred security 1,893 — (263) 1,630 Total Available-for-Sale Securities $ 47,928 $ 101 $ (931) $ 47,098 December 31, 2017 U. S. government agencies and government sponsored entities $ 1,998 $ — $ (21) $ 1,977 Agency mortgage-backed securities: residential 26,024 14 (227) 25,811 State and municipal 19,381 143 (136) 19,388 Trust preferred security 1,889 — (449) 1,440 Total Available-for-Sale Securities $ 49,292 $ 157 $ (833) $ 48,616 The proceeds from sales of securities and the associated gains are listed below: 2018 2017 (Dollars in Thousands) Sales of available for sale securities Proceeds $ — $ 6,498 Gross gains — 48 Gross losses — — The tax provision related to the 2017 realized gains was $16,000. The amortized cost and fair value of investment securities at December 31, 2018 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. December 31, 2018 (Dollars in Thousands) Available-For-Sale Amortized Cost Fair Value Due in one year or less $ 2,629 $ 2,630 Due from one to five years 9,175 9,093 Due from five to ten years 10,860 10,780 Due after ten years 4,624 4,295 Agency mortgage-backed: residential 20,640 20,300 Total $ 47,928 $ 47,098 Securities pledged at year end 2018 and 2017 had a carrying amount of $45.3 million and $46.9 million, respectively, and were pledged to secure public deposits. At year end 2018 and 2017, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of shareholders’ equity. The following table summarizes the investment securities with unrealized losses at December 31, 2018 and 2017, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position: (Dollars in Thousands) Less than 12 Months 12 Months or More Total Description of Unrealized Unrealized Unrealized Securities Fair Value Losses Fair Value Losses Fair Value Losses December 31, 2018: U.S. government agencies and government sponsored entities $ — $ — $ 6,243 $ (118) $ 6,243 $ (118) Agency mortgage-backed: residential 1,029 (2) 15,431 (353) 16,460 (355) State and municipal 689 (2) 9,445 (193) 10,134 (195) Trust preferred security — — 1,630 (263) 1,630 (263) Total temporarily impaired $ 1,718 $ (4) $ 32,749 $ (927) $ 34,467 $ (931) (Dollars in Thousands) Less than 12 Months 12 Months or More Total Description of Unrealized Unrealized Unrealized Securities Fair Value Losses Fair Value Losses Fair Value Losses December 31, 2017: U.S. government agencies and government sponsored entities $ — $ — $ 1,977 $ (21) $ 1,977 $ (21) Agency mortgage-backed: residential 17,798 (113) 4,754 (114) 22,552 (227) State and municipal 8,270 (116) 294 (20) 8,564 (136) Trust preferred security — — 1,440 (449) 1,440 (449) Total temporarily impaired $ 26,068 $ (229) $ 8,465 $ (604) $ 34,533 $ (833) Other-Than-Temporary-Impairment Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. Investment securities classified as available for sale are generally evaluated for OTTI under ASC Topic 320, “Investments - Debt and Equity Securities.” In determining OTTI under the ASC Topic 320 model, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an other than temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. As of December 31, 2018, the Company’s security portfolio consisted of $47.1 million fair value of securities, $34.5 million, or 60 securities, of which were in an unrealized loss position. All rated securities are investment grade. For those that are not rated, the financial condition has been evaluated and no adverse conditions were identified related to repayment. Declines in fair value are a function of rate differences in the market and market illiquidity. The Company does not intend or is not expected to be required to sell these securities before recovery of their amortized cost basis. At December 31, 2018, 28.4% of the Company’s unrealized losses 12 months or more relate to its investment in an unrated single-issuer trust preferred security. No impairment charge is being taken as no loss of principal or interest is anticipated. All principal and interest payments are being received as scheduled. On a quarterly basis, we evaluate the creditworthiness of the issuer, a bank holding company with operations in the state of Kentucky. Based on the issuer’s continued profitability and well-capitalized position, we do not deem that there is credit loss. The decline in fair value is primarily attributable to illiquidity affecting these markets and not the expected cash flows of the individual securities. We have evaluated the financial condition and near term prospects of the issuer and expect to fully recover our cost basis. This security continues to pay interest as agreed and future payments are expected to be made as agreed. This security is not considered to be other-than-temporarily impaired.

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses	12 Months Ended
	Dec. 31, 2018
Loans and Allowance for Loan Losses
Loans and Allowance for Loan Losses	Note 3: Loans and Allowance for Loan Losses Categories of loans at December 31 include: (Dollars in Thousands) December 31, 2018 December 31, 2017 Commercial $ 61,551 $ 61,221 Commercial real estate: Construction 36,829 44,391 Other 180,800 182,443 Residential real estate 88,797 82,230 Consumer: Auto 841 1,184 Other 2,726 2,770 Total Loans 371,544 374,239 Less: Allowance for loan losses (4,373) (4,724) Net loans $ 367,171 $ 369,515 Activity in the allowance for loan losses was as follows. (Dollars in Thousands) December 31, 2018 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 633 $ 3,515 $ 554 $ 10 $ 12 $ 4,724 Provision (credit) for loan losses (9) 74 59 9 27 160 Loans charged-off (37) (468) (43) (11) — (559) Recoveries 5 1 41 1 — 48 Total ending allowance balance $ 592 $ 3,122 $ 611 $ 9 $ 39 $ 4,373 (Dollars in Thousands) December 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 615 $ 3,628 $ 527 $ 14 $ 70 $ 4,854 Provision (credit) for loan losses 4 (114) 13 5 (58) (150) Loans charged-off (17) — — (26) — (43) Recoveries 31 1 14 17 — 63 Total ending allowance balance $ 633 $ 3,515 $ 554 $ 10 $ 12 $ 4,724 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of December 31, 2018 and December 31, 2017. As of December 31, 2018 and December 31, 2017, accrued interest receivables of $1.4 million and $1.4 million, respectively, are not considered significant for purposes of the disclosure and therefore not included in the recorded investment in loans presented in the following tables. Net deferred loan fees of $303,000 and $363,000, respectively, are included in the following tables. (Dollars in Thousands) December 31, 2018 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 48 $ — $ — $ — $ 48 Collectively evaluated 592 3,074 611 9 39 4,325 Total ending allowance balance $ 592 $ 3,122 $ 611 $ 9 $ 39 $ 4,373 Loans: Individually evaluated for impairment $ — $ 1,270 $ 147 $ 4 $ — $ 1,421 Collectively evaluated 61,551 216,359 88,650 3,563 — 370,123 Total ending loans balance $ 61,551 $ 217,629 $ 88,797 $ 3,567 $ — $ 371,544 (Dollars in Thousands) December 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 45 $ — $ — $ — $ 45 Collectively evaluated 633 3,470 554 10 12 4,679 Total ending allowance balance $ 633 $ 3,515 $ 554 $ 10 $ 12 $ 4,724 Loans: Individually evaluated for impairment $ 2 $ 1,393 $ 82 $ 7 $ — $ 1,484 Collectively evaluated 61,219 225,441 82,148 3,947 — 372,755 Total ending loans balance $ 61,221 $ 226,834 $ 82,230 $ 3,954 $ — $ 374,239 The following table presents information related to impaired loans by class of loans as of and for the years ended December 31, 2018, and 2017. In this table presentation the unpaid principal balance of the loans has not been reduced by partial net charge-offs. In this table presentation the recorded investment of the loans has been reduced by partial net charge-offs. There were no partial net charge-offs as of December 31, 2018. (Dollars in Thousands) (Dollars in Thousands) December 31, 2018 December 31, 2017 Unpaid Recorded Allowance Loan Unpaid Recorded Allowance With no related allowance recorded: Commercial $ — $ — $ — $ 2 $ 2 $ — Commercial real estate: Other 1,202 1,202 — 1,317 1,317 — Residential real estate 147 147 — 82 82 — Consumer: Other 4 4 — 7 7 — Subtotal $ 1,353 $ 1,353 $ — $ 1,408 $ 1,408 $ — With an allowance recorded: Commercial real estate: Other $ 68 $ 68 $ 48 $ 76 $ 76 $ 45 Subtotal $ 68 $ 68 $ 48 $ 76 $ 76 $ 45 Total $ 1,421 $ 1,421 $ 48 $ 1,484 $ 1,484 $ 45 Information on impaired loans for the years ended December 31, 2018 and 2017 is as follows: (Dollars in Thousands) (Dollars in Thousands) December 31, 2018 December 31, 2017 Average Interest Cash Basis Average Interest Cash B asis Commercial $ — $ — $ — $ 4 $ — $ — Commercial real estate: Other 1,331 71 4 739 6 6 Residential real estate 150 5 6 85 3 3 Consumer: Other 4 — — 9 1 1 Total $ 1,485 $ 76 $ 10 $ 837 $ 10 $ 10 Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2018 and December 31, 2017: (Dollars in Thousands) (Dollars in Thousands) December 31, 2018 December 31, 2017 Loans Past Due Nonaccrual Loans Past Due Nonaccrual Commercial real estate: Other — 1,202 — 1,317 Residential real estate — 96 — 27 Total $ — $ 1,298 $ — $ 1,344 The following tables present the aging of the recorded investment in past due loans as of December 31, 2018 and 2017 by class of loans. Non-accrual loans are included and have been categorized based on their payment status: (Dollars in Thousands) 30-59 60-89 90 and Over Total Past Current Total December 31, 2018 Commercial $ — $ 11 $ — $ 11 $ 61,540 $ 61,551 Commercial real estate: Construction — — — — 36,829 36,829 Other — — — — 180,800 180,800 Residential real estate — 37 97 134 88,663 88,797 Consumer: Auto — — — — 841 841 Other 5 — — 5 2,721 2,726 Subtotal $ 5 $ 48 $ 97 $ 150 $ 371,394 $ 371,544 (Dollars in Thousands) 30-59 60-89 90 and Over Total Past Current Total December 31, 2017 Commercial $ 9 $ — $ — $ 9 $ 61,212 $ 61,221 Commercial real estate: Construction — — — — 44,391 44,391 Other — — — — 182,443 182,443 Residential real estate 90 — 27 117 82,113 82,230 Consumer: Auto — — — — 1,184 1,184 Other 3 — — 3 2,767 2,770 Subtotal $ 102 $ — $ 27 $ 129 $ 374,110 $ 374,239 Troubled Debt Restructurings The Company reported total troubled debt restructurings of $1.3 million and $1.5 million as of December 31, 2018 and 2017, respectively. The Company has no commitments to lend additional amounts as of December 31, 2018 and 2017 to customers with outstanding loans that are classified as troubled debt restructurings. Troubled debt restructurings are evaluated along with other impaired loans. Of the five loans reported as troubled debt restructurings (TDRs) at December 31, 2018 three loans totaling $123,000 were on accrual status and two loans totaling $1.2 million were on nonaccrual status. During the years ending December 31, 2018 and 2017, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk. No troubled debt restructurings were charged off during 2018 or 2017. The following table presents loans by class modified as troubled debt restructurings that occurred during the years ending December 31, 2018 and 2017: (Dollars in Thousands) (Dollars in Thousands) Number Pre- Post- Number Pre- Post-Modification Outstanding Recorded December 31, 2018 December 31, 2017 Troubled Debt Restructurings: Commercial — $ — $ — 1 $ 5 $ 5 Commercial real estate: Other — — — 2 1,245 1,326 Total — $ — $ — 3 $ 1,250 $ 1,331 The troubled debt restructurings referenced in the above table had no effect on the allowance for loan losses and resulted in no payment defaults or charge-offs during the year ending December 31, 2018. The troubled debt restructurings described above had no effect on the allowance for loan losses and resulted in no payment defaults or charge-offs during the year ending December 31, 2018. Specific allocations of $48,000 and $45,000 were reported for troubled debt restructurings as of December 31, 2018 and 2017. The terms of certain other loans were modified during the years ending December 31, 2018 and 2017 that did not meet the definition of a troubled debt restructuring. These loans have a total recorded investment as of December 31, 2018 of $24.9 million and December 31, 2017 of $25.9 million. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the company’s internal underwriting policy. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes commercial and commercial real estate loans with an outstanding balance greater than $25,000 and is reviewed on a monthly basis. For residential real estate and consumer loans, the analysis primarily involves monitoring the past due status of these loans and, at such time that these loans are past due, the Company evaluates the loans to determine if a change in risk category is warranted. The Company uses the following definitions for risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. All loans in all loan categories are assigned risk ratings. As of December 31, 2018 and December 31, 2017, and based on the most recent analysis performed, the risk category of loans by class of loans were as follows: (Dollars in Thousands) Pass Special Substandard Doubtful Total December 31, 2018 Commercial $ 60,961 $ — $ 590 $ — $ 61,551 Commercial real estate: Construction 36,829 — — — 36,829 Other 179,419 — 1,381 — 180,800 Residential real estate 88,664 — 133 — 88,797 Consumer: Auto 841 — — — 841 Other 2,719 — 7 — 2,726 Total $ 369,433 $ — $ 2,111 $ — $ 371,544 (Dollars in Thousands) Pass Special Substandard Doubtful Total December 31, 2017 Commercial $ 60,306 $ — $ 915 $ — $ 61,221 Commercial real estate: Construction 44,391 — — — 44,391 Other 178,462 703 3,278 — 182,443 Residential real estate 82,148 55 27 — 82,230 Consumer: Auto 1,184 — — — 1,184 Other 2,762 — 8 — 2,770 Total $ 369,253 $ 758 $ 4,228 $ — $ 374,239

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2018
Fair Value
Fair Value	Note 4: Fair Value Fair value is the exchange price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that are supported by little or no market activity, reflect a company’s own assumptions about market participant assumptions of fair value, and are significant to the fair value of the assets or liabilities. In determining the appropriate levels, the Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Investment Securities: The fair value of securities available-for-sale are determined by obtaining quoted prices on nationally recognized securities exchanges (level 1 inputs) or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (level 2 inputs). The Company does not have any Level 1 securities. Level 2 securities include certain U.S. agency bonds, collateralized mortgage and debt obligations, corporate bonds and certain municipal securities. The Company has one Level 3 security. The value of this single issue trust preferred security is obtained on a quarterly basis directly from the originating broker. Impaired Loans: The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Other Real Estate Owned: Commercial and residential real estate properties classified as other real estate owned (OREO) are measured at fair value, less costs to sell. Fair values are based on recent real estate appraisals. These appraisals may use a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Appraisals for collateral-dependent impaired loans and real estate properties classified as other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by Bank management. The appraisal values for collateral-dependent impaired loans are discounted to allow for selling expenses and fees, the limited use nature of various properties, the age of the most recent appraisal, and additional discretionary discounts for location, condition, etc. The Bank annually obtains an updated current appraisal value for each OREO property to certify that the fair value has not declined. For each parcel of OREO that has declined in value, the Bank records the decline in value by a direct writedown of the asset. Assets measured at fair value on a recurring basis are summarized below. Fair Value Measurements at: (Dollars in Thousands) (Dollars in Thousands) December 31, 2018 December 31, 2017 Quoted Significant Significant Quoted Significant Significant Assets: Securities available-for-sale U. S. government agencies and government sponsored entities — $ 8,440 — — $ 1,977 — Agency mortgage-backed securities-residential — 20,300 — — 25,811 — State and municipal — 16,728 — — 19,388 — Trust preferred security — — 1,630 — — 1,440 Corporate bonds — — — — — — Total investment securities $ — $ 45,468 $ 1,630 $ — $ 47,176 $ 1,440 The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31: Trust Preferred Security 2018 2017 Balance of recurring Level 3 assets at January 1 $ 1,440 $ 1,240 Total gains or (losses) for the period included in other comprehensive income 190 200 Balance of recurring Level 3 assets at December 31 $ 1,630 $ 1,440 The carrying amounts and estimated fair values of financial instruments at December 31, 2018 and 2017 are as follows: Fair Value Measurements at December 31, 2018 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and due from financial institutions $ 8,875 $ 8,875 $ — $ — $ 8,875 Federal funds sold and interest-bearing deposits in other financial institutions 26,010 26,010 — — 26,010 Available-for-sale-securities 47,098 — 45,468 1,630 47,098 Loans, net of allowance 367,171 — — 357,877 357,877 Loans held for sale 269 — 274 — 274 Accrued interest receivable 1,683 13 255 1,415 1,683 Federal Home Loan Bank stock 2,065 — — — N/A Financial Liabilities Demand and savings deposits $ 247,768 $ 247,768 $ — $ — $ 247,768 Time deposits 140,841 — 138,869 — 138,869 FHLB advances 30,000 — 29,837 — 29,837 Subordinated debentures 5,000 — — 2,722 2,722 Accrued interest payable 410 17 339 54 410 Fair Value Measurements at December 31, 2017 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and due from financial institutions $ 6,444 $ 6,444 $ — $ — $ 6,444 Interest-bearing deposits in other financial institutions 13,532 13,532 — — 13,532 Available-for-sale-securities 48,616 — 47,176 1,440 48,616 Loans, net of allowance 369,515 — — 367,159 367,159 Loans held for sale 427 — 435 — 435 Accrued interest receivable 1,681 18 234 1,429 1,681 Federal Home Loan Bank stock 2,053 — — — N/A Financial Liabilities Demand and savings deposits $ 228,346 $ 228,346 $ — $ — $ 228,346 Time deposits 143,968 — 142,440 — 142,440 FHLB advances 40,000 — 39,776 — 39,776 Subordinated debentures 5,000 — — 2,543 2,543 Accrued interest payable 285 14 232 39 285 The methods and assumptions, not previously presented, used to estimate fair values are described as follows: (a) Cash and Cash Equivalents: The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 1. (b) Interest Bearing Deposits in Other Financial Institutions: Fair values are based on quoted market prices. (c) FHLB Stock: It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. (d) Loans, net: At December 31, 2018, fair values of loans, excluding loans held for sale, are determined using an estimated exit price. Contractual cash flow estimates are projected using a loan's balance, interest rate, repricing characteristics, maturity and payment amounts. Loans are grouped into homogenous pools for valuation purposes based on type and credit risk metrics. Contractual cash flows are adjusted for potential prepayment estimates, as well as potential defaults over the expected life of each pool. A discount rate is determined based upon current financial conditions and the nature of the cash flow forecast. The resulting exit price for the portfolio is a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. At December 31, 2017, fair values of loans, excluding loans held for sale, was estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values were based on carrying values resulting in a Level 3 classification. Fair values for other loans were estimated using discounted cash flow analyses, using interest rates being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost fair value as described previously. The methods utilized to estimate the fair value of loans did not necessarily represent an exit price. (e) Deposits: The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. The carrying amounts of variable rate certificates of deposit approximate their fair values at the reporting date resulting in a Level 2 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. (f) FHLB Advances and Other Borrowings/Subordinated Debentures: The fair values of the Company’s long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. The fair values of the Company’s Subordinated Debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. (g) Accrued Interest Receivable/Payable: The carrying amounts of accrued interest approximate fair value resulting in a classification consistent with the asset/liability they are associated with.

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2018
Premises and Equipment
Premises and Equipment	Note 5: Premises and Equipment Major classifications of premises and equipment, stated at cost, are as follows: (Dollars in Thousands) 2018 2017 Land and land improvements $ 3,233 $ 3,233 Buildings and improvements 7,994 7,994 Leasehold improvements 307 307 Furniture and fixtures 873 849 Equipment and software 2,964 3,103 Automobiles 72 72 15,443 15,558 Less accumulated depreciation (6,582) (6,418) $ 8,861 $ 9,140 Depreciation and amortization expense totaled $387,000 in 2018 and $438,000 in 2017. Operating Leases The Company leases certain branch properties and equipment under operating leases. Rent expense was $427,000 for 2018 and $422,000 for 2017. Rent commitments, before considering renewal options that generally are present, were as follows (in thousands): (Dollars In Thousands) 2019 $ 425 2020 363 2021 333 2022 217 2023 161 Thereafter 183 $ 1,682

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 6: Goodwill and Intangible Assets Goodwill Management performs a goodwill impairment analysis on an annual basis, or more frequently if circumstances warrant. We engaged a third party firm to evaluate goodwill. We performed our annual goodwill impairment analysis in 2018 and 2017 which indicated no impairment. Goodwill balance was $4.1 million at year end 2018 and 2017. Acquired Intangible Assets Acquired intangible assets were as follows at year end: (Dollars in Thousands) 2018 2017 Core deposit intangibles: Gross carrying amount $ 2,805 $ 2,805 Accumulated amortization $ (2,752) $ (2,682) Amortization expense was $71,000 in 2018 and 2017. Estimated amortization expense for each of the next four years: (Dollars In Thousands) 2019 $ 53 2020 — 2021 — 2022 —

Deposits

Deposits	12 Months Ended
	Dec. 31, 2018
Deposits..
Deposits	Note 7: Deposits Time deposits that meet or exceed the FDIC insurance limit of $250,000 were $11.0 million and $11.9 million at December 31, 2018 and 2017, respectively. There were $14.8 million in brokered deposits at December 31, 2018 and $18.1 million at December 31, 2017. At December 31, 2018, the scheduled maturities of time deposits were as follows: 2019 $ 78,957 2020 41,710 2021 8,056 2022 6,500 2023 5,618 $ 140,841

Federal Home Loan Bank Advances

Federal Home Loan Bank Advances, Letter of Credit	12 Months Ended
	Dec. 31, 2018
Federal Home Loan Bank Advances, Letter of Credit
Federal Home Loan Bank Advances, Letter of Credit	Note 8: Federal Home Loan Bank Advances, Letter of Credit At year-end, advances from the Federal Home Loan Bank (“FHLB”) were as follows: (Dollars in thousands) 2018 2017 Matures March 2018, fixed rate at 1.26% — 3,000 Matures April 2018, fixed rate at 1.05% — 5,000 Matures April 2018, fixed rate at 1.38% — 5,000 Matures August 2018, fixed rate at 1.42% — 5,000 Matures September 2018, fixed rate at 1.51% — 3,000 Matures September 2018, fixed rate at 1.49% — 4,000 Matures December 2018, fixed rate at 1.52% — 5,000 Matures May 2019, fixed rate at 1.72% 3,000 3,000 Matures September 2019, fixed rate at 1.57% 4,000 4,000 Matures December 2019, fixed rate at 2.70% 5,000 — Matures March 2020, fixed rate at 2.95% 7,000 — Matures April 2020, fixed rate at 2.70% 3,000 — Matures January 2020, fixed rate at 2.34% 5,000 — Matures January 2021, fixed rate at 1.88% 3,000 3,000 Total $ 30,000 $ 40,000 Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances were collateralized by $156.3 million and $143.4 million of first mortgage and commercial real estate loans under blanket lien arrangement for both year-end 2018 and 2017. Based on this collateral and the Company’s holdings of FHLB stock, the Company is eligible to borrow up to an additional $44.7 million at year-end 2018. Payment Information: Required payments over the next five years are 2019 12,000 2020 15,000 2021 3,000 $ 30,000 Letter of Credit The Bank has an outstanding standby letter of credit with the Federal Home Loan Bank in the amount of $24.0 million and $7.0 million at December 31, 2018, and December 31, 2017, respectively. This letter of credit is used for public unit deposit collateralization.

Subordinated Debentures

Subordinated Debentures	12 Months Ended
	Dec. 31, 2018
Subordinated Debentures.
Subordinated Debentures	Note 9: Subordinated Debentures In October 2006, Citizens First Statutory Trust I, a trust formed by the Company, closed a pooled private offering of $5.0 million trust preferred securities with a liquidation amount of $1,000 per trust security. The Company issued $5.2 million of subordinated debentures to the trust in exchange for ownership of all of the common security of the trust and the proceeds of the preferred securities sold by the trust. In accordance with accounting standards, the Company is not considered the primary beneficiary of this Trust (variable interest entity), the trust is not consolidated in the Company’s financial statements, but rather the subordinated debentures are shown as a liability. The Company’s investment in the common stock of the trust was $155,000. The Company may redeem the subordinated debentures, in whole or in part, in a principal amount with integral multiples of $1,000 per trust security, on or after January 1, 2012 at 100% of the principal amount, plus accrued and unpaid interest. The subordinated debentures mature on January 1, 2037. The subordinated debentures are also redeemable in whole or in part from time to time, upon the occurrence of specific events defined within the trust indenture. The Company has the option to defer interest payments on the subordinated debentures from time to time for a period not to exceed five consecutive years. The subordinated debentures may be included in Tier I capital (with certain limitations applicable) under current regulatory guidelines and interpretations. The securities have a stated maturity of thirty years and bear an interest rate of 165 basis points over the 3-month LIBOR rate. Our interest rate was 4.05% and 2.99% at December 31, 2018 and 2017, respectively.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Employee Benefit Plans
Employee Benefit Plans	Note 10: Employee Benefit Plans The Company sponsors a 401(k) plan covering substantially all employees. Employees may contribute a portion of their compensation (based on regulatory limitations) with the Company matching 100% of the employee’s contribution up to 4% of the employee’s compensation. Employer contributions charged to expense for 2018 and 2017 were $218,000 and $214,000, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Taxes
Income Taxes	Note 11: Income Taxes The provision for income taxes includes these components: (Dollars in Thousands) 2018 2017 Current $ 968 $ 1,593 Deferred 157 353 2017 Tax Cuts and Jobs Act remeasurement of net deferred tax asset 0 401 Income tax expense $ 1,125 $ 2,347 On December 22, 2017, the Tax Cuts and Jobs Act of 2017 was signed into law. Among other significant changes to the tax code, the new law lowered the federal corporate tax rate from 34% to 21% beginning in 2018. As a result, the Company revalued its net deferred tax asset at the new 21% rate. Due to this revaluation, the Company recorded a $401,000 charge to income tax expense for the year ended December 31, 2017. A reconciliation of the income tax expense at the statutory rate to the Company’s actual income tax expense is shown below: (Dollars in Thousands) 2018 2017 Computed at the statutory rate (21% for 2018 and 34% for 2017) $ 1,248 $ 2,188 Tax-exempt interest (78) (197) Bank owned-life insurance (37) (60) Other (8) 15 2017 Tax Cuts and Jobs Act remeasurement of net deferred tax asset — 401 Actual tax expense $ 1,125 $ 2,347 The tax effects of temporary differences related to deferred taxes shown on the balance sheets were: (Dollars in Thousands) 2018 2017 Deferred tax assets: Allowance for loan losses $ 559 $ 529 Unrealized losses on available-for-sale securities 174 142 Core deposit intangible 150 176 Stock based compensation plans 37 60 Fair value adjustments related to business combinations 55 55 Accrued compensation expense 119 124 Other 9 9 1,103 1,095 Deferred tax liabilities: Goodwill (325) (181) Deferred loan fees/costs (33) (33) FHLB stock dividends (47) (47) Depreciation (109) (120) Accretion on investment securities (12) (11) Other (32) (33) (558) (425) Net deferred tax asset $ 545 $ 670 The deferred tax asset is considered to be realizable based on our analysis of the evidence available. In performing this analysis, we consider all evidence currently available, both positive and negative, in determining whether based on the weight of that evidence, the deferred tax asset will be realized. The Company does not have any beginning and ending unrecognized tax benefits. The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. There were no interest and penalties recorded in the income statement or accrued for the year ending December 31, 2018 related to unrecognized tax benefits. The Company files a consolidated U.S. federal income tax return, Kentucky income and franchise and Tennessee income and franchise tax returns. These returns are subject to examination by taxing authorities for all years after 2014. As of December 31, 2018 income taxes receivable were $52,000, and are included in other assets on the Consolidated Balance Sheet. As of December 31, 2017 income taxes payable were $5,000 and are included in other liabilities on the Consolidated Balance Sheet.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions
Related Party Transactions	Note 12: Related Party Transactions At December 31, 2018 and 2017, the Bank had loans outstanding to executive officers, directors, significant stockholders and their affiliates (related parties) in the amount of $13.7 million and $16.7 million, respectively. The following table shows the activity in the loans outstanding to executive officers, directors, significant stockholders and their affiliates (related parties) during the year: (Dollars in Thousands) Beginning balance $ 16,704 New loans 888 Repayments (3,865) Ending balance $ 13,727 Deposits from related parties held by the Bank at December 31, 2018 and 2017, respectively, totaled $4.8 million and $5.1 million, respectively.

Stock Based Compensation Plans

Stock Based Compensation Plans	12 Months Ended
	Dec. 31, 2018
Stock Based Compensation Plans
Stock Based Compensation Plans	Note 13: Stock Based Compensation Plans The 2015 Incentive Compensation Plan (the “Plan”) provides that the Company may design and structure grants of stock options, stock units, stock appreciation rights, and other stock-based awards for selected individuals in the employ of the Company or the Bank. The Board believes that stock-based and other types of incentive compensation payable in stock and/or cash enables the Company to attract and retain talented employees and provide an incentive for those employees to increase our value. In addition, the Board believes stock ownership is important because it aligns employees’ interests with the interests of shareholders. Performance share units have been granted since 2015. The following performance share units have been issued under the plan: Weighted-Average Grant-Date Nonvested Shares Units Fair Value Nonvested at January 1, 2018 23,925 $ 15.23 Granted Vested Foreited - - Nonvested at December 1, 2018 $ 19.30 As of December 31, 2018, there is $135,000 of total unrecognized compensation cost related to nonvested shares granted under the Plan. The cost is expected to be recognized over a weighted average period of 1.5 years. Material terms of the Plan are summarized below: Eligibility. The Compensation Committee of the Board, in its discretion, may grant an award under the Plan to any employee of the Company or an affiliate. Common Shares Subject to the Plan. Subject to adjustment as described below, the maximum number of shares of the Company’s Common Stock that may be issued or transferred pursuant to awards under the Plan is the sum of the following: 100,000 shares plus any shares covered by an award that are forfeited or remain unpurchased or undistributed upon termination or expiration of an award under the Plan. Description of Award Types. Subject to the limits imposed by the Plan and described below, the Compensation Committee, in its discretion, may award any of the following types of awards to any employee: (i) incentive stock options, (ii) nonqualified stock options, (iii) stock appreciation rights, (iv) restricted shares, (v) unrestricted shares, (vi) performance shares, (vii) performance units, and (viii) restricted stock units. Performance units have been granted for a three year performance period to be distributed as soon as practicable following the filing of the Company’s 10K in the subsequent year. Performance Measures. The Compensation Committee may condition awards on the achievement of certain objective performance measures (“Performance Measures”) established by the Compensation Committee during the first 90 days of the award’s performance period. The Performance Measures will be based on certain performance factors, alone or in combination, as determined by the Compensation Committee. Such factors may be applied on a corporate-wide or business-unit basis, include or exclude one or more of the Company’s subsidiaries, may be in comparison with plan, budget or prior performance, and/or may be on an absolute basis or in comparison with peer-group performance. Performance Measures may differ from participant to participant and from award to award. The Plan provides for a number of factors; those selected as Performance Measures to date include return on assets, net charge-offs and non-performing assets. The fair value of performance units granted is estimated on the date of the grant. ASC 718 requires the recognition of stock-based compensation for the number of awards that are ultimately expected to vest. For the years ended December 31, 2018 and 2017, employee compensation expense recorded associated with the performance units was $171,000 and $148,000.

Regulatory Capital Matters

Regulatory Capital Matters	12 Months Ended
	Dec. 31, 2018
Regulatory Capital Matters
Regulatory Capital Matters	Note 14: Regulatory Capital Matters Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks, (Basel III rules) became effective for the Bank on January 1, 2015 with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in by January 1, 2019. The net unrealized gain or loss on available for sale securities is not included in computing regulatory capital. Management believes as of December 31, 2018, the Company and Citizens First Bank, Inc. met all capital adequacy requirements to which it is subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At year-end 2018 and 2017, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. Under quantitative measures established by regulation to ensure capital adequacy, we are required to maintain minimum amounts and ratios of total Tier I capital to risk-weighted assets and to total assts. For 2018, interim Final Basel III rules require the Bank to maintain minimum amounts and ratios of common equity Tier I capital to risk-weighted assets. Under Basel II rules, the decision was made to opt-out of including accumulated other comprehensive income in computing regulatory capital. The rules also establish a “capital conservation buffer” of 2.5%, to be phased in through January 1, 2019, above the new regulatory minimum risk-based capital ratios. The buffer is 1.875% for 2018. The buffer could limit the payment of dividends and discretionary bonuses to officers if a bank fails to maintain required capital levels. The Company’s and Citizens First Bank, Inc.’s actual capital amounts and ratios are also presented in the following table. (Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 55,115 14.03 % 31,424 8.00 % $ 39,280 10.00 % Tier I Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 50,742 12.92 % 23,568 6.00 % 31,424 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 50,742 12.92 % 17,676 4.50 % 25,532 6.50 % Tier I Leverage Capital to average assets Citizens First Bank, Inc. 50,742 10.82 % 18,764 4.00 % 23,455 5.0 % (Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 51,112 12.86 % 31,802 8.00 % $ 39,753 10.00 % Tier I Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 46,388 11.67 % 23,852 6.00 % 31,802 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 46,388 11.67 % 17,889 4.50 % 25,839 6.50 % Tier I Leverage Capital to average assets Citizens First Bank, Inc. 46,388 10.14 % 18,301 4.00 % 22,876 5.0 % (1) When fully phased-in on January 1, 2019, Basel III Capital Rules will require banking organizations to maintain: a minimum ratio of common equity Tier 1 to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer”; a minimum ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer; a minimum ratio of total capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer; and a minimum ratio of Tier 1 capital to adjusted average consolidated assets of at least 4.0%. Citizens First Bank, Inc. is subject to certain restrictions on the amount of dividends that it may declare without prior regulatory approval. During a profitable year, Citizens First Bank, Inc. could, without prior approval, declare dividends equal to any current and prior two years net profit retained to the date of the dividend declaration. As of December 31, 2018, $8.5 million of retained earnings is available to pay dividends.

Loan Commitments and Other Rela

Loan Commitments and Other Related Activities	12 Months Ended
	Dec. 31, 2018
Loan Commitments and Other Related Activities
Loan Commitments and Other Related Activities	Note 15: Loan Commitments and Other Related Activities Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since a portion of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Each customer’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. The following table outlines the contractual amounts of financial instruments (does not include standby letters of credit) with balance-sheet risk at year end, as follows: (Dollars in Thousands) December 31, 2018 December 31, 2017 Fixed Rate Variable Rate Fixed Rate Variable Rate Unfunded commitments $ 10,944 $ 7,429 $ 13,877 $ 5,341 Unused lines of credit 4,078 37,230 5,472 28,971 The fixed rate unused lines of credit have interest rates ranging from 2.9% to 21.0% and maturities ranging from 1 month to 28 years. Standby Letters of Credit Standby letters of credit are irrevocable conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Financial standby letters of credit are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing and similar transactions. Performance standby letters of credit are issued to guarantee performance of certain customers under non-financial contractual obligations. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loans to customers. Fees for letters of credit are initially recorded by the Bank as deferred revenue and are included in earnings at the termination of the respective agreements. Should the Bank be obligated to perform under the standby letters of credit, the Bank may seek recourse from the customer for reimbursement of amounts paid. The Bank had total outstanding standby letters of credit amounting to $1.3 million at December 31, 2018 and 2017, with terms generally 24 months or less.

Condensed Financial Information

Condensed Financial Information (Parent Company Only)	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information (Parent Company Only)
Condensed Financial Information (Parent Company Only)	Note 16: Condensed Financial Information (Parent Company Only) Condensed Balance Sheets (Dollars in Thousands) 2018 2017 Assets Cash $ 1,109 $ 835 Investment in Citizens First Bank, Inc. 53,915 49,958 Other assets 245 263 Total Assets $ 55,269 $ 51,056 Liabilities Borrowings $ 5,000 $ 5,000 Other liabilities 250 222 Total Liabilities 5,250 5,222 Stockholders’ Equity 50,019 45,834 Total stockholders’ equity 50,019 45,834 Total liabilities and stockholders’ equity $ 55,269 $ 51,056 Condensed Statement of Operations (Dollars in Thousands) 2018 2017 Dividend Income $ 1,200 $ 1,600 Expenses Interest Expense 195 144 Professional fees 240 230 Other expenses 173 153 Total expenses 608 527 Income before income taxes and equity in undistributed income of subsidiary 592 1,073 Income tax benefit (149) (144) Income before equity in undistributed income of subsidiary 741 1,217 Equity in undistributed income of subsidiary 4,078 2,872 Net Income $ 4,819 $ 4,089 Parent company only comprehensive income approximates consolidated comprehensive income. Condensed Statements of Cash Flows (Dollars in Thousands) 2018 2017 Operating Activities Net income $ 4,819 $ 4,089 Adjustments: Equity in undistributed income of subsidiary (4,078) (2,872) Stock based compensation 171 148 Changes in: Other assets 18 (195) Other liabilities 28 26 Net cash provided by operating activities $ 958 $ 1,196 Financing Activities Payment of dividends on stock (684) (652) Repayments of other borrowings — — Redemption of preferred stock — (192) Exercise of stock options — — Net cash used in financing activities (684) (844) Increase in cash and cash equivalents 274 352 Cash and cash equivalents, beginning of year 835 483 Cash and cash equivalents, end of year $ 1,109 $ 835

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Common Share
Earnings Per Common Share	Note 17: Earnings Per Common Share Basic earnings per common share is computed by dividing net income available for common shareholders by the weighted-average common shares outstanding. Diluted earnings per common share is computed the same as basic earnings per common share, and assumes the conversion of outstanding stock options and performance share units, convertible preferred stock and warrants, if dilutive. The following table reconciles basic and diluted earnings per common share for the years ending December 31, 2018 and 2017. (Dollars in Thousands) Year ended December 31, 2018 Year ended December 31, 2017 Weighted Weighted Average Per Share Average Per Share Income Shares Amount Income Shares Amount Basic earnings per share: Net income $ 4,819 $ 4,089 Dividends on preferred stock — (238) Net income available to common shareholders $ 4,819 2,535,359 $ 1.90 $ 3,851 2,294,271 $ 1.68 Effect of dilutive securities: Performance share units — 11,674 — 14,161 Convertible preferred stock — — 238 238,838 Diluted earnings per share: Net income available to common stockholders and assumed conversions $ 4,819 2,547,033 $ 1.89 $ 4,089 2,547,270 $ 1.60

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2018
Subsequent Event
Subsequent Event	Note 18:Subsequent Event On February 21, 2019, German American Bancorp, Inc. (NASDAQ: GABC) ("German American") and the Company announced that they have entered into a definitive agreement to merge the Company into German American. Upon completion of the transaction, the Bank will be merged into German American's subsidiary bank, German American Bank. Under terms of the definitive agreement, the Company’s common shareholders (excluding 401(k) shareholders) will receive a fixed exchange ratio of 0.6629 shares of German American common stock for each share of the Company in a tax free exchange, and a cash payment of $5.80 per Company share. Shareholders who hold Company common shares in the Citizens First Bank 401(k) Profit Sharing Plan will receive a cash payment equal to $5.80 plus the exchange ratio multiplied by the 20-day volume weighted average price of German American’s common shares on the second day prior to closing (provided that such average price will not be less than the closing price of German American’s common shares on the last trading day preceding the closing). After completion of the merger, it is anticipated that one board member of the Company will be joining the board of German American. In addition, German American will add M. Todd Kanipe, President & CEO of the Company, as a Regional President in the combined institution, as well as all three of the additional Company executive officers in regional roles similar to their current positions. Based upon the $31.59 per share closing price of German American’s common shares ending on February 20, 2019, the transaction has a value of $26.74 per Company common share. Because a portion of the consideration to be received is German American's common stock, the stock portion of the transaction value will fluctuate until closing together with the market price of German American's common shares. Based on the number of Company common shares expected to be outstanding at closing, German American would issue approximately 1.7 million shares of its common stock, and pay approximately $16 million cash, for all of the issued and outstanding common shares of the Company. Based upon the $31.59 per share price of German American’s common shares ending on February 20, 2019, the transaction has an aggregate indicated value of approximately $68.2 million, with the total merger consideration being split between stock and cash on an approximate 77:23 basis. The transaction is expected to be completed in the third quarter of 2019. Completion of the transaction is subject to approval by regulatory authorities and the Company’s shareholders, as well as certain other closing conditions. In connection with the definitive agreement, German American entered into voting agreements with each member of the Company’s board of directors, who collectively hold approximately 8% of the outstanding shares of the Company’s common stock. Subject to the terms and conditions of the voting agreements, the Company’s directors have agreed to vote their shares in favor of the transactions contemplated by the definitive agreement.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations and Principles of Consolidation	Nature of Operations and Principles of Consolidation– The consolidated financial statements include Citizens First Corporation and its wholly-owned subsidiary Citizens First Bank, Inc., together referred to as “the Company” or “the Bank”. Intercompany transactions and balances are eliminated in consolidation. The Company provides financial services to individual and corporate customers in Warren, Simpson, Barren and Hart counties in Kentucky and in central Tennessee. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial and consumer loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, the customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area.
Use of Estimates	Use of Estimates –To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ.
Cash Flows	Cash Flows –Cash and cash equivalents includes cash, deposits with other financial institutions under 90 days, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions.
Securities	Securities –Debt securities are classified as available for sale when they might be sold before maturity. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis.
Loans Held for Sale	Loans Held for Sale –Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Gains on sales of mortgage loans are recorded at the time of disbursement by an investor at the difference between the sales proceeds and the loan’s carrying value. Loans are sold servicing released.
Loans	Loans –Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balance adjusted for any charge-offs, allowance for loan losses, any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term on the level-yield method. Past due status is based on contractual terms of the loan. Generally, loans are placed on non-accrual status at 90 days past due and interest is considered a loss, unless the loan is well secured and in the process of collection. All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
Allowance for Loan Losses	Allowance for Loan Losses –The allowance for loan losses is a valuation allowance for probable incurred credit losses. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, information about specific borrower situations and estimated collateral values, prevailing economic conditions, and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for all loan classes by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent. Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component covers non-impaired loans and is based on historical loss experience adjusted for qualitative current factors. The historical loss experienced is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent 12 quarters. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These factors can include the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The Company defines its portfolio segments by regulatory classification, which include the following: Commercial loans, consisting of loans to depository institutions, loans to finance agricultural production, and other non-real estate commercial and industrial loans; Commercial Real Estate, consisting of loans for construction and land development, farmland, multi-family residential properties, and other non-farm, non-residential real estate loans; Residential Real Estate, consisting of first liens on residential 1-4 family properties and junior liens (revolving and non-revolving) on residential 1-4 family properties; and Consumer, including revolving and non-revolving consumer purpose loans. Commercial loans are typically based on the borrowers' ability to repay the loans from the cash flow of their business operations, and secured by assets being financed and other assets such as accounts receivable and inventory. Commercial Real Estate loans may be affected by adverse conditions in real estate markets or the economy because the borrowers ability to repay their loans depends on successful development of their properties. These loans also involve greater risk because they generally are not fully amortizing over the loan period, but have a balloon payment due at maturity. All types of Commercial and Commercial Real Estate loans may also have personal guarantees of the borrowers and business owners. Residential real estate mortgage loans are either fixed or variable interest rates to borrowers to purchase and refinance one-to-four family properties. Real estate mortgage loans are subject to the same general risks as other loans and are particularly sensitive to fluctuations in the value of real estate, which could negatively affect a borrower’s cash flow, credit worthiness and ability to repay the loan. Consumer loans are generally dependent on the personal income of the customer, and repayment is dependent on the borrower’s personal cash flow and employment status which can be affected by general economic conditions.
Federal Home Loan Bank (FHLB) Stock	Federal Home Loan Bank (FHLB) Stock –The Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.
Premises and Equipment	Premises and Equipment –Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Buildings and related components are depreciated using the straight-line method with useful lives ranging from twenty-five to forty years. Leasehold improvements are amortized over the shorter of the life of the lease or the life of the asset. Furniture, fixtures and equipment are depreciated using the straight-line with useful lives ranging from three to seven years.
Foreclosed Assets	Foreclosed Assets –Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value, less costs to sell, at the date of foreclosure, establishing a new cost basis. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. These assets are subsequently accounted for at a lower of cost of fair value less estimated costs to sell. Subsequent to foreclosure, valuations are periodically performed by management to validate the carrying value of the foreclosed properties.
Bank Owned Life Insurance	Bank Owned Life Insurance –The Bank has purchased life insurance policies on certain key employees. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets –Prior to January 1, 2009, goodwill resulted from business acquisitions and represented the excess of the purchase price over the fair value of acquired tangible assets and liabilities and identifiable intangible assets. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill is tested annually for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value in the period identified. The Company has selected December 31 as the date to perform the annual impairment test. The Company’s assessment did not identify impairment of goodwill as of December 31, 2018 and 2017. Other intangible assets consist largely of core deposit intangible assets arising from a bank acquisition. They are initially measured at fair value and then are amortized on an accelerated method over their estimated useful lives of 8 years.
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments –Financial instruments include off balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded.
Income Taxes	Income Taxes –Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between the carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. Future decreases in the corporate tax rate could result in a loss of value of the Company’s deferred tax assets, but would reduce future income tax expense. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. The Company files consolidated income tax returns with its subsidiary. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest related to income tax matters as interest expense and penalties related to income tax matters as other expense.
Stock Based Compensation Plans	Stock Based Compensation Plans –Compensation cost is recognized for performance share units issued to employees, based on the fair value of these awards at the date of grant. Compensation cost is recognized over the required service period, generally defined as the vesting period.
Retirement Plans	Retirement Plans –Employee 401(k) expense is the amount of matching contributions.
Operating Segments	Operating Segments –While the chief decision-makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating segments are aggregated into one as operating results for all segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.
Earnings per Common Share	Earnings per Common Share –Basic earnings per common share is net income available to common stockholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options, performance share units and preferred stock. Earnings and dividends per share are restated for all stock splits and stock dividends through the date of issuance of the financial statements.
Comprehensive Income (Loss)	Comprehensive Income (Loss) –Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available for sale which are also recognized as a separate component of equity.
Loss Contingencies	Loss Contingencies –Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there now are such matters that will have a material effect on the financial statements.
Dividend Restriction	Dividend Restriction –Banking regulations require maintaining certain capital levels and may limit the dividends paid by the bank to the holding company or by the holding company to shareholders.
Fair Value of Financial Instruments	Fair Value of Financial Instruments –Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements– On January 1, 2018, the Company adopted ASU 2014-09 Revenue from Contracts with Customers and all subsequent amendments to the ASU (collectively, “ASC 606”), which (i) creates a single framework for recognizing revenue from contracts with customers that fall within its scope and (ii) revises when it is appropriate to recognize a gain (loss) from the transfer of nonfinancial assets, such as OREO. The majority of the Company’s revenues come from interest income related to loans, securities and other sources that are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented within non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 for the year ended December 31, 2018 include service charges on deposit accounts of $1,230, debit card interchange income of $851, and non-deposit brokerage fees of $419. We elected to implement using the modified retrospective application, with the cumulative effect recorded as an adjustment to opening retained earnings at January 1, 2018. Due to immateriality, we had no cumulative effect to record. In January 2016 the FASB issued ASU 2016-01 which amends existing guidance on the classification and measurement of financial instruments. This new standard revises an entity’s accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. The new standard is effective for reporting periods beginning after December 15, 2017. Adopting the provisions of ASU 2016-01 did not have a material impact on our consolidated financial statements; however, it will impact the fair value disclosures included in Note 4: Fair Value. The Company currently does not have any equity investments. In February 2016 the FASB issued ASU 2016-02 which establishes the principles to report information about the assets and liabilities that arise from leases. This new standard changes the way operating leases are accounted for and reflected on the lessee’s balance sheet. The new standard is intended to increase transparency and comparability by requiring lessees to recognize the financial obligation and right-of-use asset associated with operating leases that have a lease term of more than 12 months on the balance sheet. The Company has four real property operating leases with renewal options that are impacted by this standard. The new standard is effective for reporting periods beginning after December 15, 2018. The Company will adopt this new accounting standard in the first quarter of 2019. Based on the leases outstanding at December 31, 2018, the effect of adopting this standard was an approximate $1.9 million increase in assets and liabilities on our Consolidated Balance Sheets. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which introduces the current expected credit loss (CECL) model and replaces the incurred loss model. The most significant impact for financial institutions will be to the allowance for loan and lease losses (ALLL). The standard allows for various expected credit loss estimation methods and is scalable. This standard is effective for public companies for reporting periods beginning after December 15, 2019. We continue to attend training sessions, assess our data and system needs, and have selected a vendor to assist to management with adoption. The Company expects to recognize a one-time increase to the allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective, but cannot yet determine the magnitude of any such one-time adjustment or the overall impact of this standard on the consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization of Purchased Callable Debt Securities. The final standard will shorten the amortization period for premiums on callable debt securities by requiring that premiums be amortized to the first (or earliest) call date instead of as an adjustment to the yield over the contractual life. The standard is effective for public companies for fiscal years beginning after December 15, 2018. Early adoption is permitted. This new accounting standard is not expected to have a material impact on the consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The ASU required a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the newly enacted federal corporate income tax rate as a result of the Tax Cuts and Jobs Act. The amount of the reclassification is the difference between the historical corporate income tax rate and the newly enacted twenty-one percent corporate income tax rate. The Company adopted during the first quarter of 2018 and recorded an entry of approximately $88,000.
Reclassifications	Reclassifications –Certain reclassifications have been made to the 2017 financial statements to conform to the 2018 financial statement presentation. Reclassifications had no effect on prior year net income or shareholders’ equity.

Available-For-Sale Securities (

Available-For-Sale Securities (Tables)	12 Months Ended
	Dec. 31, 2018
Available-For-Sale Securities
Summary of the amortized cost and fair value of the available for sale investment securities portfolio	(Dollars in Thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value December 31, 2018 U. S. government agencies and government sponsored entities $ 8,529 29 $ (118) $ 8,440 Agency mortgage-backed securities: residential 20,640 15 (355) 20,300 State and municipal 16,866 57 (195) 16,728 Trust preferred security 1,893 — (263) 1,630 Total Available-for-Sale Securities $ 47,928 $ 101 $ (931) $ 47,098 December 31, 2017 U. S. government agencies and government sponsored entities $ 1,998 $ — $ (21) $ 1,977 Agency mortgage-backed securities: residential 26,024 14 (227) 25,811 State and municipal 19,381 143 (136) 19,388 Trust preferred security 1,889 — (449) 1,440 Total Available-for-Sale Securities $ 49,292 $ 157 $ (833) $ 48,616
Summary of proceeds from sales of securities and the associated gains	2018 2017 (Dollars in Thousands) Sales of available for sale securities Proceeds $ — $ 6,498 Gross gains — 48 Gross losses — —
Summary of the amortized cost and fair value of investment securities by contractual maturity	December 31, 2018 (Dollars in Thousands) Available-For-Sale Amortized Cost Fair Value Due in one year or less $ 2,629 $ 2,630 Due from one to five years 9,175 9,093 Due from five to ten years 10,860 10,780 Due after ten years 4,624 4,295 Agency mortgage-backed: residential 20,640 20,300 Total $ 47,928 $ 47,098
Summary of the investment securities with unrealized losses aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position	(Dollars in Thousands) Less than 12 Months 12 Months or More Total Description of Unrealized Unrealized Unrealized Securities Fair Value Losses Fair Value Losses Fair Value Losses December 31, 2018: U.S. government agencies and government sponsored entities $ — $ — $ 6,243 $ (118) $ 6,243 $ (118) Agency mortgage-backed: residential 1,029 (2) 15,431 (353) 16,460 (355) State and municipal 689 (2) 9,445 (193) 10,134 (195) Trust preferred security — — 1,630 (263) 1,630 (263) Total temporarily impaired $ 1,718 $ (4) $ 32,749 $ (927) $ 34,467 $ (931) (Dollars in Thousands) Less than 12 Months 12 Months or More Total Description of Unrealized Unrealized Unrealized Securities Fair Value Losses Fair Value Losses Fair Value Losses December 31, 2017: U.S. government agencies and government sponsored entities $ — $ — $ 1,977 $ (21) $ 1,977 $ (21) Agency mortgage-backed: residential 17,798 (113) 4,754 (114) 22,552 (227) State and municipal 8,270 (116) 294 (20) 8,564 (136) Trust preferred security — — 1,440 (449) 1,440 (449) Total temporarily impaired $ 26,068 $ (229) $ 8,465 $ (604) $ 34,533 $ (833)

Loans and Allowance for Loan _2

Loans and Allowance for Loan Losses (Tables)	12 Months Ended
	Dec. 31, 2018
Loans and Allowance for Loan Losses
Schedule of categories of loans	(Dollars in Thousands) December 31, 2018 December 31, 2017 Commercial $ 61,551 $ 61,221 Commercial real estate: Construction 36,829 44,391 Other 180,800 182,443 Residential real estate 88,797 82,230 Consumer: Auto 841 1,184 Other 2,726 2,770 Total Loans 371,544 374,239 Less: Allowance for loan losses (4,373) (4,724) Net loans $ 367,171 $ 369,515
Schedule of activity in the allowance for loan losses	(Dollars in Thousands) December 31, 2018 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 633 $ 3,515 $ 554 $ 10 $ 12 $ 4,724 Provision (credit) for loan losses (9) 74 59 9 27 160 Loans charged-off (37) (468) (43) (11) — (559) Recoveries 5 1 41 1 — 48 Total ending allowance balance $ 592 $ 3,122 $ 611 $ 9 $ 39 $ 4,373 (Dollars in Thousands) December 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 615 $ 3,628 $ 527 $ 14 $ 70 $ 4,854 Provision (credit) for loan losses 4 (114) 13 5 (58) (150) Loans charged-off (17) — — (26) — (43) Recoveries 31 1 14 17 — 63 Total ending allowance balance $ 633 $ 3,515 $ 554 $ 10 $ 12 $ 4,724
Schedule of balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method	(Dollars in Thousands) December 31, 2018 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 48 $ — $ — $ — $ 48 Collectively evaluated 592 3,074 611 9 39 4,325 Total ending allowance balance $ 592 $ 3,122 $ 611 $ 9 $ 39 $ 4,373 Loans: Individually evaluated for impairment $ — $ 1,270 $ 147 $ 4 $ — $ 1,421 Collectively evaluated 61,551 216,359 88,650 3,563 — 370,123 Total ending loans balance $ 61,551 $ 217,629 $ 88,797 $ 3,567 $ — $ 371,544 (Dollars in Thousands) December 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 45 $ — $ — $ — $ 45 Collectively evaluated 633 3,470 554 10 12 4,679 Total ending allowance balance $ 633 $ 3,515 $ 554 $ 10 $ 12 $ 4,724 Loans: Individually evaluated for impairment $ 2 $ 1,393 $ 82 $ 7 $ — $ 1,484 Collectively evaluated 61,219 225,441 82,148 3,947 — 372,755 Total ending loans balance $ 61,221 $ 226,834 $ 82,230 $ 3,954 $ — $ 374,239
Schedule of impaired loans by class of loans	(Dollars in Thousands) (Dollars in Thousands) December 31, 2018 December 31, 2017 Unpaid Recorded Allowance Loan Unpaid Recorded Allowance With no related allowance recorded: Commercial $ — $ — $ — $ 2 $ 2 $ — Commercial real estate: Other 1,202 1,202 — 1,317 1,317 — Residential real estate 147 147 — 82 82 — Consumer: Other 4 4 — 7 7 — Subtotal $ 1,353 $ 1,353 $ — $ 1,408 $ 1,408 $ — With an allowance recorded: Commercial real estate: Other $ 68 $ 68 $ 48 $ 76 $ 76 $ 45 Subtotal $ 68 $ 68 $ 48 $ 76 $ 76 $ 45 Total $ 1,421 $ 1,421 $ 48 $ 1,484 $ 1,484 $ 45 Information on impaired loans for the years ended December 31, 2018 and 2017 is as follows: (Dollars in Thousands) (Dollars in Thousands) December 31, 2018 December 31, 2017 Average Interest Cash Basis Average Interest Cash B asis Commercial $ — $ — $ — $ 4 $ — $ — Commercial real estate: Other 1,331 71 4 739 6 6 Residential real estate 150 5 6 85 3 3 Consumer: Other 4 — — 9 1 1 Total $ 1,485 $ 76 $ 10 $ 837 $ 10 $ 10
Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans	(Dollars in Thousands) (Dollars in Thousands) December 31, 2018 December 31, 2017 Loans Past Due Nonaccrual Loans Past Due Nonaccrual Commercial real estate: Other — 1,202 — 1,317 Residential real estate — 96 — 27 Total $ — $ 1,298 $ — $ 1,344
Schedule of aging of the recorded investment in past due loans by class of loans	(Dollars in Thousands) 30-59 60-89 90 and Over Total Past Current Total December 31, 2018 Commercial $ — $ 11 $ — $ 11 $ 61,540 $ 61,551 Commercial real estate: Construction — — — — 36,829 36,829 Other — — — — 180,800 180,800 Residential real estate — 37 97 134 88,663 88,797 Consumer: Auto — — — — 841 841 Other 5 — — 5 2,721 2,726 Subtotal $ 5 $ 48 $ 97 $ 150 $ 371,394 $ 371,544 (Dollars in Thousands) 30-59 60-89 90 and Over Total Past Current Total December 31, 2017 Commercial $ 9 $ — $ — $ 9 $ 61,212 $ 61,221 Commercial real estate: Construction — — — — 44,391 44,391 Other — — — — 182,443 182,443 Residential real estate 90 — 27 117 82,113 82,230 Consumer: Auto — — — — 1,184 1,184 Other 3 — — 3 2,767 2,770 Subtotal $ 102 $ — $ 27 $ 129 $ 374,110 $ 374,239
Schedule of loans by class modified as troubled debt restructurings	(Dollars in Thousands) (Dollars in Thousands) Number Pre- Post- Number Pre- Post-Modification Outstanding Recorded December 31, 2018 December 31, 2017 Troubled Debt Restructurings: Commercial — $ — $ — 1 $ 5 $ 5 Commercial real estate: Other — — — 2 1,245 1,326 Total — $ — $ — 3 $ 1,250 $ 1,331
Schedule of risk category of loans by class of loans based on the most recent analyses performed	(Dollars in Thousands) Pass Special Substandard Doubtful Total December 31, 2018 Commercial $ 60,961 $ — $ 590 $ — $ 61,551 Commercial real estate: Construction 36,829 — — — 36,829 Other 179,419 — 1,381 — 180,800 Residential real estate 88,664 — 133 — 88,797 Consumer: Auto 841 — — — 841 Other 2,719 — 7 — 2,726 Total $ 369,433 $ — $ 2,111 $ — $ 371,544 (Dollars in Thousands) Pass Special Substandard Doubtful Total December 31, 2017 Commercial $ 60,306 $ — $ 915 $ — $ 61,221 Commercial real estate: Construction 44,391 — — — 44,391 Other 178,462 703 3,278 — 182,443 Residential real estate 82,148 55 27 — 82,230 Consumer: Auto 1,184 — — — 1,184 Other 2,762 — 8 — 2,770 Total $ 369,253 $ 758 $ 4,228 $ — $ 374,239

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value
Schedule of assets measured at fair value on a recurring basis	Fair Value Measurements at: (Dollars in Thousands) (Dollars in Thousands) December 31, 2018 December 31, 2017 Quoted Significant Significant Quoted Significant Significant Assets: Securities available-for-sale U. S. government agencies and government sponsored entities — $ 8,440 — — $ 1,977 — Agency mortgage-backed securities-residential — 20,300 — — 25,811 — State and municipal — 16,728 — — 19,388 — Trust preferred security — — 1,630 — — 1,440 Corporate bonds — — — — — — Total investment securities $ — $ 45,468 $ 1,630 $ — $ 47,176 $ 1,440
Schedule of reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	Trust Preferred Security 2018 2017 Balance of recurring Level 3 assets at January 1 $ 1,440 $ 1,240 Total gains or (losses) for the period included in other comprehensive income 190 200 Balance of recurring Level 3 assets at December 31 $ 1,630 $ 1,440
Schedule of carrying amount and estimated fair values of financial instruments	Fair Value Measurements at December 31, 2018 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and due from financial institutions $ 8,875 $ 8,875 $ — $ — $ 8,875 Federal funds sold and interest-bearing deposits in other financial institutions 26,010 26,010 — — 26,010 Available-for-sale-securities 47,098 — 45,468 1,630 47,098 Loans, net of allowance 367,171 — — 357,877 357,877 Loans held for sale 269 — 274 — 274 Accrued interest receivable 1,683 13 255 1,415 1,683 Federal Home Loan Bank stock 2,065 — — — N/A Financial Liabilities Demand and savings deposits $ 247,768 $ 247,768 $ — $ — $ 247,768 Time deposits 140,841 — 138,869 — 138,869 FHLB advances 30,000 — 29,837 — 29,837 Subordinated debentures 5,000 — — 2,722 2,722 Accrued interest payable 410 17 339 54 410 Fair Value Measurements at December 31, 2017 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and due from financial institutions $ 6,444 $ 6,444 $ — $ — $ 6,444 Interest-bearing deposits in other financial institutions 13,532 13,532 — — 13,532 Available-for-sale-securities 48,616 — 47,176 1,440 48,616 Loans, net of allowance 369,515 — — 367,159 367,159 Loans held for sale 427 — 435 — 435 Accrued interest receivable 1,681 18 234 1,429 1,681 Federal Home Loan Bank stock 2,053 — — — N/A Financial Liabilities Demand and savings deposits $ 228,346 $ 228,346 $ — $ — $ 228,346 Time deposits 143,968 — 142,440 — 142,440 FHLB advances 40,000 — 39,776 — 39,776 Subordinated debentures 5,000 — — 2,543 2,543 Accrued interest payable 285 14 232 39 285

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Premises and Equipment
Schedule of major classifications of premises and equipment, stated at cost	(Dollars in Thousands) 2018 2017 Land and land improvements $ 3,233 $ 3,233 Buildings and improvements 7,994 7,994 Leasehold improvements 307 307 Furniture and fixtures 873 849 Equipment and software 2,964 3,103 Automobiles 72 72 15,443 15,558 Less accumulated depreciation (6,582) (6,418) $ 8,861 $ 9,140
Schedule of rent commitments, before considering renewal options	(Dollars In Thousands) 2019 $ 425 2020 363 2021 333 2022 217 2023 161 Thereafter 183 $ 1,682

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets
Schedule of acquired intangible assets	(Dollars in Thousands) 2018 2017 Core deposit intangibles: Gross carrying amount $ 2,805 $ 2,805 Accumulated amortization $ (2,752) $ (2,682)
Schedule of estimated amortization expense for each of the next four years	(Dollars In Thousands) 2019 $ 53 2020 — 2021 — 2022 —

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2018
Deposits..
Schedule of maturities of time deposits	2019 $ 78,957 2020 41,710 2021 8,056 2022 6,500 2023 5,618 $ 140,841

Federal Home Loan Bank Advanc_2

Federal Home Loan Bank Advances, Letter of Credit (Tables)	12 Months Ended
	Dec. 31, 2018
Federal Home Loan Bank Advances, Letter of Credit and Borrowed Funds
Schedule of advances from the Federal Home Loan Bank (FHLB)	(Dollars in thousands) 2018 2017 Matures March 2018, fixed rate at 1.26% — 3,000 Matures April 2018, fixed rate at 1.05% — 5,000 Matures April 2018, fixed rate at 1.38% — 5,000 Matures August 2018, fixed rate at 1.42% — 5,000 Matures September 2018, fixed rate at 1.51% — 3,000 Matures September 2018, fixed rate at 1.49% — 4,000 Matures December 2018, fixed rate at 1.52% — 5,000 Matures May 2019, fixed rate at 1.72% 3,000 3,000 Matures September 2019, fixed rate at 1.57% 4,000 4,000 Matures December 2019, fixed rate at 2.70% 5,000 — Matures March 2020, fixed rate at 2.95% 7,000 — Matures April 2020, fixed rate at 2.70% 3,000 — Matures January 2020, fixed rate at 2.34% 5,000 — Matures January 2021, fixed rate at 1.88% 3,000 3,000 Total $ 30,000 $ 40,000
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances, Letter of Credit and Borrowed Funds
Schedule of required payments over the next five years	2019 12,000 2020 15,000 2021 3,000 $ 30,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Taxes
Schedule of components of provision for income taxes	(Dollars in Thousands) 2018 2017 Current $ 968 $ 1,593 Deferred 157 353 2017 Tax Cuts and Jobs Act remeasurement of net deferred tax asset 0 401 Income tax expense $ 1,125 $ 2,347
Schedule of reconciliation of the income tax expense at the statutory rate to the Company's actual income tax expense	(Dollars in Thousands) 2018 2017 Computed at the statutory rate (21% for 2018 and 34% for 2017) $ 1,248 $ 2,188 Tax-exempt interest (78) (197) Bank owned-life insurance (37) (60) Other (8) 15 2017 Tax Cuts and Jobs Act remeasurement of net deferred tax asset — 401 Actual tax expense $ 1,125 $ 2,347
Schedule of tax effects of temporary differences related to deferred taxes shown on the balance sheets	(Dollars in Thousands) 2018 2017 Deferred tax assets: Allowance for loan losses $ 559 $ 529 Unrealized losses on available-for-sale securities 174 142 Core deposit intangible 150 176 Stock based compensation plans 37 60 Fair value adjustments related to business combinations 55 55 Accrued compensation expense 119 124 Other 9 9 1,103 1,095 Deferred tax liabilities: Goodwill (325) (181) Deferred loan fees/costs (33) (33) FHLB stock dividends (47) (47) Depreciation (109) (120) Accretion on investment securities (12) (11) Other (32) (33) (558) (425) Net deferred tax asset $ 545 $ 670

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2018
Related Party Transactions
Schedule of activity in the loans outstanding to executive officers, directors, significant stockholders and their affiliates (related parties)	(Dollars in Thousands) Beginning balance $ 16,704 New loans 888 Repayments (3,865) Ending balance $ 13,727

Stock Based Compensation Plans

Stock Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Stock Based Compensation Plans
Summary of the status of the plans and changes during the period	Weighted-Average Grant-Date Nonvested Shares Units Fair Value Nonvested at January 1, 2018 23,925 $ 15.23 Granted Vested Foreited - - Nonvested at December 1, 2018 $ 19.30

Regulatory Capital Matters (Tab

Regulatory Capital Matters (Tables)	12 Months Ended
	Dec. 31, 2018
Regulatory Capital Matters
Schedule of the Company's and the Bank's actual capital amounts and ratios	(Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 55,115 14.03 % 31,424 8.00 % $ 39,280 10.00 % Tier I Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 50,742 12.92 % 23,568 6.00 % 31,424 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 50,742 12.92 % 17,676 4.50 % 25,532 6.50 % Tier I Leverage Capital to average assets Citizens First Bank, Inc. 50,742 10.82 % 18,764 4.00 % 23,455 5.0 % (Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 51,112 12.86 % 31,802 8.00 % $ 39,753 10.00 % Tier I Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 46,388 11.67 % 23,852 6.00 % 31,802 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Citizens First Bank, Inc. 46,388 11.67 % 17,889 4.50 % 25,839 6.50 % Tier I Leverage Capital to average assets Citizens First Bank, Inc. 46,388 10.14 % 18,301 4.00 % 22,876 5.0 % (1) When fully phased-in on January 1, 2019, Basel III Capital Rules will require banking organizations to maintain: a minimum ratio of common equity Tier 1 to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer”; a minimum ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer; a minimum ratio of total capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer; and a minimum ratio of Tier 1 capital to adjusted average consolidated assets of at least 4.0%.

Loan Commitments and Other Re_2

Loan Commitments and Other Related Activities (Tables)	12 Months Ended
	Dec. 31, 2018
Loan Commitments and Other Related Activities
Schedule of contractual amounts of financial instruments (does not include standby letters of credit) with balance-sheet risk	(Dollars in Thousands) December 31, 2018 December 31, 2017 Fixed Rate Variable Rate Fixed Rate Variable Rate Unfunded commitments $ 10,944 $ 7,429 $ 13,877 $ 5,341 Unused lines of credit 4,078 37,230 5,472 28,971

Condensed Financial Informati_2

Condensed Financial Information (Parent Company Only) (Tables)	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information (Parent Company Only)
Schedule of condensed financial information as to financial position	(Dollars in Thousands) 2018 2017 Assets Cash $ 1,109 $ 835 Investment in Citizens First Bank, Inc. 53,915 49,958 Other assets 245 263 Total Assets $ 55,269 $ 51,056 Liabilities Borrowings $ 5,000 $ 5,000 Other liabilities 250 222 Total Liabilities 5,250 5,222 Stockholders’ Equity 50,019 45,834 Total stockholders’ equity 50,019 45,834 Total liabilities and stockholders’ equity $ 55,269 $ 51,056
Schedule of condensed financial information as to results of operations	(Dollars in Thousands) 2018 2017 Dividend Income $ 1,200 $ 1,600 Expenses Interest Expense 195 144 Professional fees 240 230 Other expenses 173 153 Total expenses 608 527 Income before income taxes and equity in undistributed income of subsidiary 592 1,073 Income tax benefit (149) (144) Income before equity in undistributed income of subsidiary 741 1,217 Equity in undistributed income of subsidiary 4,078 2,872 Net Income $ 4,819 $ 4,089
Schedule of condensed financial information as to cash flows	(Dollars in Thousands) 2018 2017 Operating Activities Net income $ 4,819 $ 4,089 Adjustments: Equity in undistributed income of subsidiary (4,078) (2,872) Stock based compensation 171 148 Changes in: Other assets 18 (195) Other liabilities 28 26 Net cash provided by operating activities $ 958 $ 1,196 Financing Activities Payment of dividends on stock (684) (652) Repayments of other borrowings — — Redemption of preferred stock — (192) Exercise of stock options — — Net cash used in financing activities (684) (844) Increase in cash and cash equivalents 274 352 Cash and cash equivalents, beginning of year 835 483 Cash and cash equivalents, end of year $ 1,109 $ 835

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Common Share
Schedule of reconciliation of basic and diluted earnings per share computations	(Dollars in Thousands) Year ended December 31, 2018 Year ended December 31, 2017 Weighted Weighted Average Per Share Average Per Share Income Shares Amount Income Shares Amount Basic earnings per share: Net income $ 4,819 $ 4,089 Dividends on preferred stock — (238) Net income available to common shareholders $ 4,819 2,535,359 $ 1.90 $ 3,851 2,294,271 $ 1.68 Effect of dilutive securities: Performance share units — 11,674 — 14,161 Convertible preferred stock — — 238 238,838 Diluted earnings per share: Net income available to common stockholders and assumed conversions $ 4,819 2,547,033 $ 1.89 $ 4,089 2,547,270 $ 1.60

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies - Allowance for Loan Losses (Details)	12 Months Ended
	Dec. 31, 2018
Nature of Operations and Summary of Significant Accounting Policies
Loss history look-back period	36 months

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies - Premises and Equipment (Details)	12 Months Ended
	Dec. 31, 2018
Buildings and improvements | Minimum
Premises and equipment
Useful lives of premises and equipment	25 years
Buildings and improvements | Maximum
Premises and equipment
Useful lives of premises and equipment	40 years
Furniture and fixtures | Minimum
Premises and equipment
Useful lives of premises and equipment	3 years
Furniture and fixtures | Maximum
Premises and equipment
Useful lives of premises and equipment	7 years

Nature of Operations and Summ_5

Nature of Operations and Summary of Significant Accounting Policies - Goodwill and Other Intangible Assets, Income Taxes (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)
Other intangible assets
Impact on the consolidated financial statements from the adoption of amendment		$ 0
Operating Segments
Number of operating segments | segment		1
Number of reportable segments | segment		1
Income Taxes
Tax benefit recorded for tax positions not meeting the more likely than not test		$ 0
Statutory rate (as a percent)		21.00%	34.00%
Income tax expense from Tax Cuts and Jobs Act	$ 88,000
Goodwill		$ 4,100,000	$ 4,100,000
Core deposit intangibles
Other intangible assets
Estimated useful lives of other intangible assets		8 years

Nature of Operations and Summ_6

Nature of Operations and Summary of Significant Accounting Policies - Accounting Pronouncements-Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Deposit accounts
New Accounting Pronouncements or Change in Accounting Principle
Non-intrest income from services	$ 1,230	$ 1,237
Debit card interchange income
New Accounting Pronouncements or Change in Accounting Principle
Non-intrest income from services	851
Brokerage fees
New Accounting Pronouncements or Change in Accounting Principle
Non-intrest income from services	$ 419	$ 365

Nature of Operations and Summ_7

Nature of Operations and Summary of Significant Accounting Policies - Accounting Pronouncements-Leases (Details) - Accounting Standards Update 2016-02 - Restatement Adjustment $ in Millions	Jan. 01, 2019USD ($)lease
New Accounting Pronouncements or Change in Accounting Principle
Number of real property operating leases | lease	4
Operating Lease, Right-of-Use Asset	$ 1.9
Operating Lease, Liability	$ 1.9

Available-For-Sale Securities -

Available-For-Sale Securities - Amortized Cost and Fair Value with Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	$ 47,928	$ 49,292
Gross Unrealized Gains	101	157
Gross Unrealized Losses	(931)	(833)
Fair value of securities	47,098	48,616
U. S. government agencies and government sponsored entities
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	8,529	1,998
Gross Unrealized Gains	29
Gross Unrealized Losses	(118)	(21)
Fair value of securities	8,440	1,977
Agency mortgage-backed securities: residential
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	20,640	26,024
Gross Unrealized Gains	15	14
Gross Unrealized Losses	(355)	(227)
Fair value of securities	20,300	25,811
State and municipal
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	16,866	19,381
Gross Unrealized Gains	57	143
Gross Unrealized Losses	(195)	(136)
Fair value of securities	16,728	19,388
Trust preferred security
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	1,893	1,889
Gross Unrealized Losses	(263)	(449)
Fair value of securities	$ 1,630	$ 1,440

Available-For-Sale Securities_2

Available-For-Sale Securities - Amortized Cost and Fair Value of Investment Securities by Contractual Maturity (Details)	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Sales of available for sale securities
Proceeds from sales of available-for-sale securities		$ 6,498,000
Gross gains		48,000
Tax provision related to realized gains	$ 16,000
Number of available-for-sale securities in an unrealized loss position | item	60
Amortized Cost
Due in one year or less	$ 2,629,000
Due from one to five years	9,175,000
Due from five to ten years	10,860,000
Due after ten years	4,624,000
Agency mortgage-backed: residential	20,640,000
Amortized Cost	47,928,000	49,292,000
Fair Value
Due in one year or less	2,630,000
Due from one to five years	9,093,000
Due from five to ten years	10,780,000
Due after ten years	4,295,000
Agency mortgage-backed: residential	20,300,000
Fair Value	$ 47,098,000	$ 48,616,000

Available-For-Sale Securities_3

Available-For-Sale Securities - Investment Securities with Unrealized Losses by Investment Category (Details)	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Investment holdings
Securities pledged	$ 45,300,000	$ 46,900,000
Value of securities held of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of shareholders' equity	0	0
Fair Value, Less than 12 Months	1,718,000	26,068,000
Unrealized Losses, Less than 12 Months	(4,000)	(229,000)
Fair Value, 12 Months or More	32,749,000	8,465,000
Unrealized Losses, 12 Months or More	(927,000)	(604,000)
Fair Value, Total	34,467,000	34,533,000
Unrealized Losses, Total	$ (931,000)	(833,000)
Unrealized losses, 12 months or more (as a percent)	28.40%
Impairment charge on available for sale securities	$ 0
Duration of available-for-sale securities in an unrealized loss position	12 months
Other than temporary impairment losses on investments
Number of adverse conditions identified, related to repayment of securities that are not rated | item	0
Loss of interest anticipated	$ 0
U. S. government agencies and government sponsored entities
Investment holdings
Fair Value, 12 Months or More	6,243,000	1,977,000
Unrealized Losses, 12 Months or More	(118,000)	(21,000)
Fair Value, Total	6,243,000	1,977,000
Unrealized Losses, Total	(118,000)	(21,000)
Agency mortgage-backed securities: residential
Investment holdings
Fair Value, Less than 12 Months	1,029,000	17,798,000
Unrealized Losses, Less than 12 Months	(2,000)	(113,000)
Fair Value, 12 Months or More	15,431,000	4,754,000
Unrealized Losses, 12 Months or More	(353,000)	(114,000)
Fair Value, Total	16,460,000	22,552,000
Unrealized Losses, Total	(355,000)	(227,000)
State and municipal
Investment holdings
Fair Value, Less than 12 Months	689,000	8,270,000
Unrealized Losses, Less than 12 Months	(2,000)	(116,000)
Fair Value, 12 Months or More	9,445,000	294,000
Unrealized Losses, 12 Months or More	(193,000)	(20,000)
Fair Value, Total	10,134,000	8,564,000
Unrealized Losses, Total	(195,000)	(136,000)
Trust preferred security
Investment holdings
Fair Value, 12 Months or More	1,630,000	1,440,000
Unrealized Losses, 12 Months or More	(263,000)	(449,000)
Fair Value, Total	1,630,000	1,440,000
Unrealized Losses, Total	$ (263,000)	$ (449,000)

Loans and Allowance for Loan _3

Loans and Allowance for Loan Losses - Loans By Category (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Categories of loans
Total loans	$ 371,544	$ 374,239
Less Allowance for loan losses	(4,373)	(4,724)	$ (4,854)
Net Loans	367,171	369,515
Commercial
Categories of loans
Total loans	61,551	61,221
Less Allowance for loan losses	(592)	(633)	(615)
Commercial Real Estate
Categories of loans
Total loans	217,629	226,834
Less Allowance for loan losses	(3,122)	(3,515)	(3,628)
Residential Real Estate
Categories of loans
Total loans	88,797	82,230
Less Allowance for loan losses	(611)	(554)	(527)
Consumer
Categories of loans
Total loans	3,567	3,954
Less Allowance for loan losses	(9)	(10)	(14)
Unallocated
Categories of loans
Less Allowance for loan losses	(39)	(12)	$ (70)
Commercial | Commercial
Categories of loans
Total loans	61,551	61,221
Real estate | Residential Real Estate
Categories of loans
Total loans	88,797	82,230
Construction | Commercial Real Estate
Categories of loans
Total loans	36,829	44,391
Auto | Consumer
Categories of loans
Total loans	841	1,184
Other | Commercial Real Estate
Categories of loans
Total loans	180,800	182,443
Other | Consumer
Categories of loans
Total loans	$ 2,726	$ 2,770

Loans and Allowance for Loan _4

Loans and Allowance for Loan Losses - Allowance Roll-forward and Loans by Portfolio Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Allowance for loan losses:
Beginning Balance	$ 4,724,000	$ 4,854,000
Provision for loan losses (credit)	160,000	(150,000)
Loans charged-off	(559,000)	(43,000)
Recoveries	48,000	63,000
Total ending allowance balance	4,373,000	4,724,000
Accrued interest receivable			$ 1,683,000	$ 1,681,000
Net deferred loan fees			303,000	363,000
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment			48,000	45,000
Collectively evaluated			4,325,000	4,679,000
Total ending allowance balance	4,724,000	4,854,000	4,373,000	4,724,000
Loans:
Individually evaluated for impairment			1,421,000	1,484,000
Collectively evaluated			370,123,000	372,755,000
Loans and Leases Receivable, Gross, Total			371,544,000	374,239,000
Loans Receivable
Allowance for loan losses:
Accrued interest receivable			1,400,000	1,400,000
Commercial
Allowance for loan losses:
Beginning Balance	633,000	615,000
Provision for loan losses (credit)	(9,000)	4,000
Loans charged-off	(37,000)	(17,000)
Recoveries	5,000	31,000
Total ending allowance balance	592,000	633,000
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated			592,000	633,000
Total ending allowance balance	633,000	615,000	592,000	633,000
Loans:
Individually evaluated for impairment				2,000
Collectively evaluated			61,551,000	61,219,000
Loans and Leases Receivable, Gross, Total			61,551,000	61,221,000
Commercial Real Estate
Allowance for loan losses:
Beginning Balance	3,515,000	3,628,000
Provision for loan losses (credit)	74,000	(114,000)
Loans charged-off	(468,000)
Recoveries	1,000	1,000
Total ending allowance balance	3,122,000	3,515,000
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment			48,000	45,000
Collectively evaluated			3,074,000	3,470,000
Total ending allowance balance	3,515,000	3,628,000	3,122,000	3,515,000
Loans:
Individually evaluated for impairment			1,270,000	1,393,000
Collectively evaluated			216,359,000	225,441,000
Loans and Leases Receivable, Gross, Total			217,629,000	226,834,000
Residential Real Estate
Allowance for loan losses:
Beginning Balance	554,000	527,000
Provision for loan losses (credit)	59,000	13,000
Loans charged-off	(43,000)
Recoveries	41,000	14,000
Total ending allowance balance	611,000	554,000
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated			611,000	554,000
Total ending allowance balance	554,000	527,000	611,000	554,000
Loans:
Individually evaluated for impairment			147,000	82,000
Collectively evaluated			88,650,000	82,148,000
Loans and Leases Receivable, Gross, Total			88,797,000	82,230,000
Consumer
Allowance for loan losses:
Beginning Balance	10,000	14,000
Provision for loan losses (credit)	9,000	5,000
Loans charged-off	(11,000)	(26,000)
Recoveries	1,000	17,000
Total ending allowance balance	9,000	10,000
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated			9,000	10,000
Total ending allowance balance	10,000	14,000	9,000	10,000
Loans:
Individually evaluated for impairment			4,000	7,000
Collectively evaluated			3,563,000	3,947,000
Loans and Leases Receivable, Gross, Total			3,567,000	3,954,000
Unallocated
Allowance for loan losses:
Beginning Balance	12,000	70,000
Provision for loan losses (credit)	27,000	(58,000)
Total ending allowance balance	39,000	12,000
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated			39,000	12,000
Total ending allowance balance	$ 12,000	$ 70,000	39,000	12,000
Commercial | Commercial
Loans:
Loans and Leases Receivable, Gross, Total			61,551,000	61,221,000
Real estate | Residential Real Estate
Loans:
Loans and Leases Receivable, Gross, Total			88,797,000	82,230,000
Construction | Commercial Real Estate
Loans:
Loans and Leases Receivable, Gross, Total			36,829,000	44,391,000
Auto | Consumer
Loans:
Loans and Leases Receivable, Gross, Total			841,000	1,184,000
Other | Commercial Real Estate
Loans:
Loans and Leases Receivable, Gross, Total			180,800,000	182,443,000
Other | Consumer
Loans:
Loans and Leases Receivable, Gross, Total			$ 2,726,000	$ 2,770,000

Loans and Allowance for Loan _5

Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Impaired loans
Amount of partial net charge off	$ 0
Unpaid Principal Balance
With no related allowance recorded	1,353	$ 1,408
With an allowance recorded	68	76
Total	1,421	1,484
Recorded Investment
With no related allowance recorded	1,353	1,408
With an allowance recorded	68	76
Total	1,421	1,484
Allowance for Loan Losses Allocated
Total	48	45
Average Recorded Investment
Total	1,485	837
Interest Income Recognized
Total	76	10
Cash Basis Interest Recognized
Total	10	10
Commercial | Commercial
Unpaid Principal Balance
With no related allowance recorded		2
Recorded Investment
With no related allowance recorded		2
Average Recorded Investment
Total		4
Real estate | Residential Real Estate
Unpaid Principal Balance
With no related allowance recorded	147	82
Recorded Investment
With no related allowance recorded	147	82
Average Recorded Investment
Total	150	85
Interest Income Recognized
Total	5	3
Cash Basis Interest Recognized
Total	6	3
Other | Commercial Real Estate
Unpaid Principal Balance
With no related allowance recorded	1,202	1,317
With an allowance recorded	68	76
Recorded Investment
With no related allowance recorded	1,202	1,317
With an allowance recorded	68	76
Allowance for Loan Losses Allocated
Total	48	45
Average Recorded Investment
Total	1,331	739
Interest Income Recognized
Total	71	6
Cash Basis Interest Recognized
Total	4	6
Other | Consumer
Unpaid Principal Balance
With no related allowance recorded	4	7
Recorded Investment
With no related allowance recorded	4	7
Average Recorded Investment
Total	$ 4	9
Interest Income Recognized
Total		1
Cash Basis Interest Recognized
Total		$ 1

Loans and Allowance for Loan _6

Loans and Allowance for Loan Losses - Investment in Nonaccrual Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	$ 1,298	$ 1,344
Real estate | Residential Real Estate
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	96	27
Other | Commercial Real Estate
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	$ 1,202	$ 1,317

Loans and Allowance for Loan _7

Loans and Allowance for Loan Losses - Aging of Past Due Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Aging of the recorded investment in past due loans
Total Past Due	$ 150	$ 129
Current	371,394	374,110
Loans and Leases Receivable, Gross, Total	371,544	374,239
Commercial
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	61,551	61,221
Commercial Real Estate
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	217,629	226,834
Residential Real Estate
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	88,797	82,230
Consumer
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	3,567	3,954
Commercial | Commercial
Aging of the recorded investment in past due loans
Total Past Due	11	9
Current	61,540	61,212
Loans and Leases Receivable, Gross, Total	61,551	61,221
Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	134	117
Current	88,663	82,113
Loans and Leases Receivable, Gross, Total	88,797	82,230
Construction | Commercial Real Estate
Aging of the recorded investment in past due loans
Current	36,829	44,391
Loans and Leases Receivable, Gross, Total	36,829	44,391
Auto | Consumer
Aging of the recorded investment in past due loans
Current	841	1,184
Loans and Leases Receivable, Gross, Total	841	1,184
Other | Commercial Real Estate
Aging of the recorded investment in past due loans
Current	180,800	182,443
Loans and Leases Receivable, Gross, Total	180,800	182,443
Other | Consumer
Aging of the recorded investment in past due loans
Total Past Due	5	3
Current	2,721	2,767
Loans and Leases Receivable, Gross, Total	2,726	2,770
30 to 59 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	5	102
30 to 59 Days Past Due | Commercial | Commercial
Aging of the recorded investment in past due loans
Total Past Due		9
30 to 59 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due		90
30 to 59 Days Past Due | Other | Consumer
Aging of the recorded investment in past due loans
Total Past Due	5	3
60 to 89 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	48
60 to 89 Days Past Due | Commercial | Commercial
Aging of the recorded investment in past due loans
Total Past Due	11
60 to 89 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	37
Over 90 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	97	27
Over 90 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	$ 97	$ 27

Loans and Allowance for Loan _8

Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Details)	12 Months Ended
	Dec. 31, 2018USD ($)loanitem	Dec. 31, 2017USD ($)loanitem
Troubled Debt Restructurings
Total troubled debt restructurings	$ 1,300,000	$ 1,500,000
Commitments to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings	$ 0	$ 0
Number of loans reported as troubled debt restructurings | loan	5
Number of loans accruing that are classified as troubled debt restructurings | loan	3
Loans accruing that are classified as troubled debt restructurings	$ 123,000
Number of loans on nonaccrual status that are classified as troubled debt restructurings | loan	2
Loans on nonaccrual status that are classified as troubled debt restructurings	$ 1,200,000
Number of loans modified as troubled debt restructurings that occurred during the year | item		3
Pre-Modification Outstanding Recorded Investment		$ 1,250,000
Post-Modification Outstanding Recorded Investment		1,331,000
Specific allocations reported for the troubled debt restructurings	$ 48,000	45,000
Number of payment defaults reported for troubled debt restructurings | item	0
Troubled debt restructurings charged off	$ 0
Total recorded investment for loans modified (other than through troubled debt restructuring)	$ 24,900,000	$ 25,900,000
Number of reported charge-offs for troubled debt restructurings | loan	0
Commercial
Troubled Debt Restructurings
Number of loans modified as troubled debt restructurings that occurred during the year | loan		1
Pre-Modification Outstanding Recorded Investment		$ 5,000
Post-Modification Outstanding Recorded Investment		$ 5,000
Commercial Real Estate Other Portfolio Segment
Troubled Debt Restructurings
Number of loans modified as troubled debt restructurings that occurred during the year | loan		2
Pre-Modification Outstanding Recorded Investment		$ 1,245,000
Post-Modification Outstanding Recorded Investment		$ 1,326,000

Loans and Allowance for Loan _9

Loans and Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis	$ 25,000
Total loans	371,544	$ 374,239
Pass
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		369,253
Total loans	369,433
Special Mention
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		758
Substandard
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		4,228
Total loans	2,111
Commercial | Commercial
Credit Quality Indicators
Total loans	61,551	61,221
Commercial | Commercial | Pass
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		60,306
Total loans	60,961
Commercial | Commercial | Substandard
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		915
Total loans	590
Real estate | Residential Real Estate
Credit Quality Indicators
Total loans	88,797	82,230
Real estate | Residential Real Estate | Pass
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		82,148
Total loans	88,664
Real estate | Residential Real Estate | Special Mention
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		55
Real estate | Residential Real Estate | Substandard
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		27
Total loans	133
Construction | Commercial Real Estate
Credit Quality Indicators
Total loans	36,829	44,391
Construction | Commercial Real Estate | Pass
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		44,391
Total loans	36,829
Auto | Consumer
Credit Quality Indicators
Total loans	841	1,184
Auto | Consumer | Pass
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		1,184
Total loans	841
Other | Commercial Real Estate
Credit Quality Indicators
Total loans	180,800	182,443
Other | Commercial Real Estate | Pass
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		178,462
Total loans	179,419
Other | Commercial Real Estate | Special Mention
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		703
Other | Commercial Real Estate | Substandard
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		3,278
Total loans	1,381
Other | Consumer
Credit Quality Indicators
Total loans	2,726	2,770
Other | Consumer | Pass
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		2,762
Total loans	2,719
Other | Consumer | Substandard
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis		$ 8
Total loans	$ 7

Fair Value - Assets Measured on

Fair Value - Assets Measured on a Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Assets:
Securities available-for-sale	$ 47,098	$ 48,616
Fair value, assets measured on recurring basis, unobservable input reconciliation
Impaired loans	1,421	1,484
U. S. government agencies and government sponsored entities
Assets:
Securities available-for-sale	8,440	1,977
Agency mortgage-backed securities: residential
Assets:
Securities available-for-sale	20,300	25,811
State and municipal
Assets:
Securities available-for-sale	16,728	19,388
Trust preferred security
Assets:
Securities available-for-sale	1,630	1,440
Level 2
Assets:
Securities available-for-sale	45,468	47,176
Level 3
Assets:
Securities available-for-sale	1,630	1,440
Recurring basis | Level 2
Assets:
Securities available-for-sale	45,468	47,176
Recurring basis | Level 2 | U. S. government agencies and government sponsored entities
Assets:
Securities available-for-sale	8,440	1,977
Recurring basis | Level 2 | Agency mortgage-backed securities: residential
Assets:
Securities available-for-sale	20,300	25,811
Recurring basis | Level 2 | State and municipal
Assets:
Securities available-for-sale	16,728	19,388
Recurring basis | Level 3
Assets:
Securities available-for-sale	1,630	1,440
Recurring basis | Level 3 | Trust preferred security
Assets:
Securities available-for-sale	1,630	1,440
Fair value, assets measured on recurring basis, unobservable input reconciliation
Recurring Level 3 assets, beginning of period balance	1,440	1,240
Losses for the period included in other comprehensive income	190	200
Recurring Level 3 assets, end of period balance	$ 1,630	$ 1,440

Fair Value - Quantitative and Q

Fair Value - Quantitative and Qualitative Information of Level 3 Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value
Impaired loans	$ 1,421	$ 1,484

Fair Value - Carrying Amount an

Fair Value - Carrying Amount and Estimated Fair Values (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financial Assets
Federal funds sold and interest-bearing deposits in other financial institutions	$ 16,010	$ 13,532
Available-for-sale securities	47,098	48,616
Loans, net of allowance	367,171	369,515
Accrued interest receivable	1,683	1,681
Federal Home Loan Bank stock	2,065	2,053
Financial Liabilities
FHLB advances	30,000	40,000
Subordinated debentures	5,000	5,000
Accrued interest payable	410	285
Level 1
Financial Assets
Cash and cash equivalents	8,875	6,444
Federal funds sold and interest-bearing deposits in other financial institutions	26,010	13,532
Accrued interest receivable	13	18
Financial Liabilities
Demand and savings deposits	247,768	228,346
Accrued interest payable	17	14
Level 2
Financial Assets
Available-for-sale securities	45,468	47,176
Loans held for sale	274	435
Accrued interest receivable	255	234
Financial Liabilities
Time deposits	138,869	142,440
FHLB advances	29,837	39,776
Accrued interest payable	339	232
Level 3
Financial Assets
Available-for-sale securities	1,630	1,440
Loans, net of allowance	357,877	367,159
Accrued interest receivable	1,415	1,429
Financial Liabilities
Subordinated debentures	2,722	2,543
Accrued interest payable	54	39
Carrying Amount
Financial Assets
Cash and cash equivalents	8,875	6,444
Federal funds sold and interest-bearing deposits in other financial institutions	26,010	13,532
Available-for-sale securities	47,098	48,616
Loans, net of allowance	367,171	369,515
Loans held for sale	269	427
Accrued interest receivable	1,683	1,681
Federal Home Loan Bank stock	2,065	2,053
Financial Liabilities
Demand and savings deposits	247,768	228,346
Time deposits	140,841	143,968
FHLB advances	30,000	40,000
Subordinated debentures	5,000	5,000
Accrued interest payable	410	285
Total
Financial Assets
Cash and cash equivalents	8,875	6,444
Federal funds sold and interest-bearing deposits in other financial institutions	26,010	13,532
Available-for-sale securities	47,098	48,616
Loans, net of allowance	357,877	367,159
Loans held for sale	274	435
Accrued interest receivable	1,683	1,681
Financial Liabilities
Demand and savings deposits	247,768	228,346
Time deposits	138,869	142,440
FHLB advances	29,837	39,776
Subordinated debentures	2,722	2,543
Accrued interest payable	410	285
Loans Receivable
Financial Assets
Accrued interest receivable	$ 1,400	$ 1,400

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Premises and equipment
Gross premises and equipment	$ 15,443,000	$ 15,558,000
Less accumulated depreciation	(6,582,000)	(6,418,000)
Net premises and equipment	8,861,000	9,140,000
Depreciation and amortization	387,000	438,000
Operating Leases
Rent expense	427,000	422,000
Rent commitments
2,019	425,000
2,020	363,000
2,021	333,000
2,022	217,000
2,023	161,000
Thereafter	183,000
Total	1,682,000
Land and land improvements
Premises and equipment
Gross premises and equipment	3,233,000	3,233,000
Buildings and improvements
Premises and equipment
Gross premises and equipment	7,994,000	7,994,000
Leasehold improvements
Premises and equipment
Gross premises and equipment	307,000	307,000
Furniture and fixtures
Premises and equipment
Gross premises and equipment	873,000	849,000
Equipment and software
Premises and equipment
Gross premises and equipment	2,964,000	3,103,000
Automobiles
Premises and equipment
Gross premises and equipment	$ 72,000	$ 72,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets
Impairment of goodwill	$ 0	$ 0
Goodwill	$ 4,100,000	$ 4,100,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Acquired Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Acquired intangible assets
Amortization of core deposit intangible	$ 71,000	$ 71,000
Estimated amortization expense
2,019	53,000
Core deposit intangibles
Acquired intangible assets
Gross carrying amount	2,805,000	2,805,000
Accumulated amortization	$ (2,752,000)	$ (2,682,000)

Deposits (Details)

Deposits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Deposits..
Total deposits	$ 388,609,000	$ 372,314,000
Deposits
Insurance limit for deposits	250,000	250,000
Time deposits exceeding FDIC limit of $250,000	11,000,000	11,900,000
Brokered deposits	14,800,000	18,100,000
Maturities of time deposits
2,019	78,957,000
2,020	41,710,000
2,021	8,056,000
2,022	6,500,000
2,023	5,618,000
Total	$ 140,841,000	$ 143,968,000

Federal Home Loan Bank Advanc_3

Federal Home Loan Bank Advances, Letter of Credit - Advances from Federal Home Loan Bank (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total	$ 30,000	$ 40,000
Collateralized first mortgage and commercial real estate loans	156,300	143,400
Additional borrowing available	$ 44,700
Matures March 2018, fixed rate at 1.26%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total		3,000
Fixed rate (as a percent)	1.26%
Matures April 2018, fixed rate at 1.05%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total		5,000
Fixed rate (as a percent)	1.05%
Matures April 2018, fixed rate at 1.38%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total		5,000
Fixed rate (as a percent)	1.38%
Matures August 2018, fixed rate at 1.42%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total		5,000
Fixed rate (as a percent)	1.42%
Matures September 2018, fixed rate at 1.51%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total		3,000
Fixed rate (as a percent)	1.51%
Matures September 2018, fixed rate at 1.49%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total		4,000
Fixed rate (as a percent)	1.49%
Matures December 2018, fixed rate at 1.52%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total		$ 5,000
Fixed rate (as a percent)	1.52%	1.52%
Matures May 2019, fixed rate at 1.72%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total	$ 3,000	$ 3,000
Fixed rate (as a percent)	1.72%	1.72%
Matures September 2019, fixed rate at 1.57%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total	$ 4,000	$ 4,000
Fixed rate (as a percent)	1.57%	1.57%
Matures December 2019, fixed rate at 2.70%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total	$ 5,000
Fixed rate (as a percent)	2.70%
Matures March 2020, fixed rate at 2.95%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total	$ 7,000
Fixed rate (as a percent)	2.95%
Matures April 2020, fixed rate at 2.70%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total	$ 3,000
Fixed rate (as a percent)	2.70%
Matures January 2020, fixed rate at 2.34%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total	$ 5,000
Fixed rate (as a percent)	2.34%	2.34%
Matures January 2021, fixed rate at 1.88%
Federal Home Loan Bank advances, letter of credit and borrowed funds
Total	$ 3,000	$ 3,000
Fixed rate (as a percent)	1.88%

Federal Home Loan Bank Advanc_4

Federal Home Loan Bank Advances, Letter of Credit - Required Payment Information and Other Borrowed Funds (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Required payments over the next five years
2,019	$ 12,000
2,020	15,000
2,021	3,000
Total required payments	$ 30,000	$ 40,000

Federal Home Loan Bank Advanc_5

Federal Home Loan Bank Advances, Letter of Credit - Letters of Credit (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Federal Home Loan Bank Advances | Standby letters of credit
Subordinated Debentures
Letter of Credit, outstanding	$ 24	$ 7

Subordinated Debentures (Detail

Subordinated Debentures (Details) - USD ($)	Oct. 31, 2006	Dec. 31, 2018	Dec. 31, 2017
Subordinated Debentures
Debt maturity term		30 years
Subordinated debentures
Subordinated Debentures
Debt issued	$ 5,200,000
Percentage of principal amount to be redeemed		100.00%
Maximum consecutive periods for deferment of interest		5 years
Interest rate (as a percent)		4.05%	2.99%
Subordinated debentures | LIBOR
Subordinated Debentures
Interest rate, basis points added to base rate (as a percent)		165.00%
Base rate		3-month LIBOR rate
Citizens First Statutory Trust I
Subordinated Debentures
Investment in common stock of trust	155,000
Citizens First Statutory Trust I | Trust preferred security
Subordinated Debentures
Private offering of trust preferred securities	$ 5,000,000
Liquidation amount (per security)	$ 1,000

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Employee Benefit Plans
Employer's matching contribution (as a percent)	100.00%
Percentage of employees' compensation, matched 100% by employer	4.00%
Employer contributions	$ 218,000	$ 214,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Components of provision for income taxes
Current	$ 968,000	$ 1,593,000
Deferred	157,000	353,000
2017 Tax Cuts and Jobs Act remeasurement of net deferred tax asset	0	401,000
Income tax expense	$ 1,125,000	$ 2,347,000
Reconciliation of the income tax expense at the statutory rate to the company's actual income tax expense
Statutory rate (as a percent)	21.00%	34.00%
Computed at the statutory rate (21% for 2018 and 34% for 2017)	$ 1,248,000	$ 2,188,000
Tax-exempt interest	(78,000)	(197,000)
Bank owned-life insurance	(37,000)	(60,000)
Other	(8,000)	15,000
2017 Tax Cuts and Jobs Act remeasurement of net deferred tax asset	0	401,000
Income tax expense	1,125,000	2,347,000
Deferred tax assets:
Allowance for loan losses	559,000	529,000
Unrealized losses on available-for-sale securities	174,000	142,000
Core deposit intangible	150,000	176,000
Stock based compensation plans	37,000	60,000
Fair value adjustments related to business combinations	55,000	55,000
Accrued compensation expense	119,000	124,000
Other	9,000	9,000
Deferred tax assets	1,103,000	1,095,000
Deferred tax liabilities:
Goodwill	(325,000)	(181,000)
Deferred loan fees/costs	(33,000)	(33,000)
FHLB stock dividends	(47,000)	(47,000)
Depreciation	(109,000)	(120,000)
Accretion on investment securities	(12,000)	(11,000)
Other	(32,000)	(33,000)
Deferred tax liabilities	(558,000)	(425,000)
Net deferred tax asset	545,000	670,000
Interest and penalties accrued	0
Income taxes receivable	$ 52,000
Income taxes payable		$ 5,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Activity in the loans outstanding to executive officers, directors, significant stockholders and their affiliates (related parties)
Beginning balance	$ 16,704
New loans	888
Repayments	(3,865)
Ending balance	13,727
Deposits from related parties	$ 4,800	$ 5,100

Stock Based Compensation Plan_2

Stock Based Compensation Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Stock Based Compensation Plans
Shares of common stock reserved for issuance	100,000
Stock options granted (in shares)	4,967
Performance measure period	90 days
Units
Nonvested at beginning of period (in shares)	23,925
Granted (in shares)	4,967
Vested (in shares)	9,700
Nonvested at end of period (in shares)	19,192	23,925
Weighted-Average Grant-Date Fair Value
Outstanding, beginning of year (in dollars per share)	$ 15.23
Granted (in dollars per share)	25.21
Vested (in dollars per share)	12.30
Outstanding, end of year (in dollars per share)	$ 19.30	$ 15.23
Performance share units
Stock Based Compensation Plans
Review period for performance units	3 years
Compensation expense (in dollars)	$ 171,000	$ 148,000
Unrecognized compensation expense associated with stock options	$ 135,000
Weighted-average remaining term
Weighted average period cost is expected to be recognized	1 year 6 months

Regulatory Capital Matters (Det

Regulatory Capital Matters (Details) $ in Thousands	Jan. 01, 2019	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Regulatory capital matters
Number of classifications for prompt corrective action regulations | item		5
Capital conservation buffer (as a percent)	2.50%	1.875%
Dividends
Number of previous years retained profit considered for dividend payment		2 years
Retained earnings is available to pay dividends		$ 8,500
Minimum
Total Capital (to Risk-Weighted Assets)
For Capital Adequacy Purposes, Ratio (as a percent)	8.00%
Tier I Capital (to Risk-Weighted Assets)
For Capital Adequacy Purposes, Ratio (as a percent)	6.00%
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
For Capital Adequacy Purposes, Ratio (as a percent)	4.50%
Tier I Capital (to Average Assets)
For Capital Adequacy Purposes, Ratio (as a percent)	4.00%
Citizens First Bank, Inc.
Total Capital (to Risk-Weighted Assets)
Actual, Amount		55,115	$ 51,112
For Capital Adequacy Purposes, Amount		31,424	31,802
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount		$ 39,280	$ 39,753
Total Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)		14.03%	12.86%
For Capital Adequacy Purposes, Ratio (as a percent)		8.00%	8.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)		10.00%	10.00%
Tier I Capital (to Risk-Weighted Assets)
Actual, Amount		$ 50,742	$ 46,388
For Capital Adequacy Purposes, Amount		23,568	23,852
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount		$ 31,424	$ 31,802
Tier I Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)		12.92%	11.67%
For Capital Adequacy Purposes, Ratio (as a percent)		6.00%	6.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)		8.00%	8.00%
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual Amount		$ 50,742	$ 46,388
For Capital Adequacy Purposes, Amount		17,676	17,889
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount		$ 25,532	$ 25,839
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)		12.92%	11.67%
For Capital Adequacy Purposes, Ratio (as a percent)		4.50%	4.50%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)		6.50%	6.50%
Tier I Leverage Capital to Average Assets
Actual, Amount		$ 50,742	$ 46,388
For Capital Adequacy Purposes, Amount		18,764	18,301
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount		$ 23,455	$ 22,876
Tier I Capital (to Average Assets)
Actual, Ratio (as a percent)		10.82%	10.14%
For Capital Adequacy Purposes, Ratio (as a percent)		4.00%	4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)		5.00%	5.00%

Loan Commitments and Other Re_3

Loan Commitments and Other Related Activities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Loan Commitments
Number of violations of conditions established in the contract to extend the credit commitments | item	0
Unfunded commitments
Loan Commitments
Fixed Rate	$ 10,944	$ 13,877
Variable Rate	7,429	5,341
Unused lines of credit
Loan Commitments
Fixed Rate	4,078	5,472
Variable Rate	$ 37,230	$ 28,971
Unused lines of credit | Minimum
Loan Commitments
Interest rates (as a percent)	2.90%
Fixed rate maturity period	1 month
Unused lines of credit | Maximum
Loan Commitments
Interest rates (as a percent)	21.00%
Fixed rate maturity period	28 years
Standby letters of credit | Citizens First Bank, Inc.
Loan Commitments
Outstanding commitments	$ 1,300
Standby letters of credit | Citizens First Bank, Inc. | Maximum
Loan Commitments
Term of outstanding standby letter of credit	24 years	24 years

Condensed Financial Informati_3

Condensed Financial Information (Parent Company Only) - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Other assets	$ 550	$ 555
Total assets	475,982	465,382
Liabilities
Other liabilities	1,944	1,949
Total liabilities	425,963	419,548
Stockholders' Equity	50,019	45,834	$ 42,364
Total liabilities and stockholders' equity	475,982	465,382
Parent Company
Assets
Cash	1,109	835
Investment in Citizens First Bank, Inc.	53,915	49,958
Other assets	245	263
Total assets	55,269	51,056
Liabilities
Borrowings	5,000	5,000
Other liabilities	250	222
Total liabilities	5,250	5,222
Stockholders' Equity	50,019	45,834
Total liabilities and stockholders' equity	$ 55,269	$ 51,056

Condensed Financial Informati_4

Condensed Financial Information (Parent Company Only) - Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Expenses
Interest expense	$ 4,483	$ 3,038
Professional fees	646	547
Other expenses	1,844	1,741
Income before income taxes and equity in undistributed income of subsidiary	5,944	6,436
Income tax benefit	1,125	2,347
Net income	4,819	4,089
Parent Company
Condensed Statements of Operations
Dividend income	1,200	1,600
Expenses
Interest expense	195	144
Professional fees	240	230
Other expenses	173	153
Total expenses	608	527
Income before income taxes and equity in undistributed income of subsidiary	592	1,073
Income tax benefit	(149)	(144)
Income before equity in undistributed income of subsidiary	741	1,217
Equity in undistributed income of subsidiary	4,078	2,872
Net income	$ 4,819	$ 4,089

Condensed Financial Informati_5

Condensed Financial Information (Parent Company Only) - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating Activities
Net income	$ 4,819	$ 4,089
Adjustments:
Stock based compensation	171	148
Changes in:
Other assets	(27)	(167)
Net cash provided by operating activities	6,057	4,534
Financing Activities
Payment of dividends on stock		(238)
Redemption of preferred stock		(192)
Net cash provided by financing activities	5,611	6,031
(Decrease) increase in cash and cash equivalents	12,431	(2,098)
Cash and cash equivalents, beginning of year	6,444	8,542
Cash and cash equivalents, end of year	18,875	6,444
Parent Company
Operating Activities
Net income	4,819	4,089
Adjustments:
Equity in undistributed income of subsidiary	(4,078)	(2,872)
Stock based compensation	171	148
Changes in:
Other assets	18	(195)
Other liabilities	28	26
Net cash provided by operating activities	958	1,196
Financing Activities
Payment of dividends on stock	(684)	(652)
Redemption of preferred stock		(192)
Net cash provided by financing activities	(684)	(844)
(Decrease) increase in cash and cash equivalents	274	352
Cash and cash equivalents, beginning of year	835	483
Cash and cash equivalents, end of year	$ 1,109	$ 835

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Basic earnings per share:
Net income	$ 4,819	$ 4,089
Less: Dividends on preferred stock during the quarter		(238)
Net income available for common stockholders	$ 4,819	$ 3,851
Weighted Average Shares, basic
Weighted Average Shares, basic	2,535,359	2,294,271
Effect of dilutive securities
Income		$ 238
Performance share units (in shares)	11,674	14,161
Convertible preferred stock (in shares)		238,838
Weighted Average Shares, diluted
Net income available to common stockholders and assumed conversions	$ 4,819	$ 4,089
Weighted Average Shares, diluted	2,547,033	2,547,270
Per Share Amount
Basic earnings per common share (in dollars per share)	$ 1.90	$ 1.68
Diluted earnings per common share (in dollars per share)	$ 1.89	$ 1.60
Diluted earnings per share
Net income available to common stockholders and assumed conversions	$ 4,819	$ 4,089

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Events shares in Millions	Feb. 21, 2019USD ($)$ / sharesdirectorshares	Feb. 20, 2019$ / shares
Subsequent Event
Exchange ratio of the number of shares each shareholder of the company received from the acquirer	0.6629
Cash payment per share each shareholder of the company received from acquirer | $ / shares	5.80
Number of days of volume weighted average share price of acquirer to be used to multiply by exchange ratio to determine number of shares the profit sharing participants will receive	20 days
Number of board members of the company who will be added to acquirer's board of directors | director	1
Number of Company executive officers in regional roles similar to their current positions who will be added to the acquirer's company | director	3
Share price of acquirer just prior to date of definitive agreement | $ / shares		31.59
Share price of Company just prior to date of definitive agreement | $ / shares		$ 26.74
Approximate number of shares acquirer will issue as a result of definitive agreement | shares	1.7
Approximate amount of cash paid by acquirer for all issued and outstanding stock of the Company in the definitive agreement	$ 16,000,000
Approximate aggregate indicated value of stock and cash the acquirer will pay	$ 68,200,000
Ratio of stock/cash split in the definitive agreement	3.3478
Approximate percentage of stock owned by the Company Board of Directors	8.00%